Ripple has signed an agreement with BBVA, Spain’s second-largest bank, to provide its custody technology. The move supports BBVA’s recently launched crypto trading and custody service for retail customers, covering Bitcoin, Ether, and other tokenized assets.
Under the deal, BBVA will use Ripple Custody, a self-custody platform designed for institutions. Ripple Custody provides a scalable and secure infrastructure, helping financial institutions meet strict operational, regulatory, and security requirements while managing crypto assets.
The agreement builds on Ripple’s longstanding collaboration with BBVA, including previous deployments in Garanti BBVA, Turkey, and BBVA Switzerland.
“Now that the EU’s Markets in Crypto-Assets regulation (MiCA) is in place, banks can launch digital asset services their customers are asking for,” said Cassie Craddock, Managing Director, Europe, at Ripple. “BBVA is one of the region’s most innovative banks. Our custody platform gives them secure and compliant technology.”
Francisco Maroto, Head of Digital Assets at BBVA, said the platform allows the bank to offer end-to-end custody to its customers. “We can provide digital asset services backed by the security of a bank like BBVA,” he said.
However, this move comes after some revelations in the past. In 2017, sources within BBVA with close knowledge of Ripple and its reception in the banking sector revealed that the technology was not yet ready for practical use
At the time, staff expressed doubts about the protocol’s reliability and suitability for settlement purposes. While the tests were meant to evaluate future potential, insiders hinted that Ripple did not meet the operational standards BBVA required. The technology was described as not fit for its intended banking applications.
Fast forward to today, BBVA has formally adopted Ripple’s technology. The deal signals that BBVA has revisited Ripple’s technology after years of development, finding it mature enough to handle real-world applications.
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
Kadena (KDA) price has recorded its worst single-day loss since inception. The small-cap altcoin dropped…
The Ethereum Foundation (EF) has transferred over $650 million worth of ETH to a wallet…
Brale, a platform that lets businesses create their own stablecoins, is now live on the…
After months of Bitcoin dominance keeping altcoins in check, crypto analysts now believe the long-awaited…
The crypto market, led by Bitcoin (BTC) and Ethereum (ETH), is on the rise. The…
The crypto market has turned green, and XRP is gaining attention once again. Over the…
