Ripple Partners with BBVA to Expand Digital Asset Custody in Spain
Ripple, the digital asset infrastructure provider for financial institutions, has signed a new agreement with BBVA to supply its custody technology to the Spanish bank. The move coincides with BBVA’s launch of a crypto-asset trading and custody service for BTC and ether, which is now available to retail customers in Spain.
Custody Technology at the Core
Through the agreement, BBVA will implement Ripple Custody, the firm’s institutional-grade self-custody technology. The answer is designed to handle tokenized assets securely and at scale, covering both crypto-assets and future classes of digital assets.
Cassie Craddock, Managing Director, Europe, at Ripple, highlighted the regulatory shift driving adoption:
“Now that the EU’s Market in Crypto Assets regulation (MiCA) is established across Europe, the region’s banks are emboldened to launch the digital asset offerings that their customers are asking for. BBVA has long been one of the region’s most innovative banks and we’re proud to support its ambitions with the most secure and compliant digital asset technology on the market.”
BBVA’s Expanding Digital Asset Strategy
BBVA has been steadily advancing its digital asset offerings. The bank previously launched similar services in Switzerland and Turkey and is now extending the model to Spain. The collaboration with Ripple allows BBVA to deliver a secure, end-to-end custody service to its local retail base.
Francisco Maroto, Head of Digital Assets at BBVA, explained:
“BBVA has long demonstrated strong leadership in digitization and innovation and the launch of our digital assets offering in Spain follows earlier offerings in Switzerland and Turkey. Ripple’s custody answer allows us to leverage proven and trusted technology that meets the highest security and operational standards, allowing BBVA to directly provide an end-to-end custody service to its customers.”
A Growing Collaboration
The Spanish agreement builds on Ripple’s existing work with BBVA, including its role as custody provider for Garanti BBVA in Turkey and BBVA Switzerland. Ripple, which holds more than 60 regulatory licenses and registrations globally, has over a decade of experience delivering compliant digital asset infrastructure to banks and financial institutions.
With the demand for secure custody of tokenized assets growing, Ripple’s infrastructure assists banks meet regulatory, operational, and security standards while offering customers access to crypto and other digital assets.
The agreement underscores a broader trend of European banks entering the digital asset market under MiCA regulation. Ripple’s offerings extend beyond custody to include payments and stablecoin answers, while BBVA continues to expand its digital leadership in Spain, Mexico, Turkey, and other regions. Together, both institutions are working to integrate regulated digital assets into mainstream banking.
