Ripple has expanded its European footprint by joining forces with Spanish banking giant BBVA to introduce a digital asset custody service.

Announced on Sept. 9, the initiative extends Ripple’s institutional custody platform into Spain, giving BBVA the tools to store and manage cryptocurrencies and tokenized assets securely.

BBVA can scale its digital asset offering by deploying Ripple’s custody technology while staying within strict regulatory and security standards. The service positions the bank to meet rising demand from customers who want direct access to crypto without relying on third-party intermediaries.

This move comes as BBVA rolls out retail services for Bitcoin and Ethereum trading and custody in Spain. The bank’s customers can now buy, sell, and hold the two top cryptocurrencies directly through its mobile application.

BBVA said it has disclosed the new retail offering to Spain’s National Securities Market Commission (CNMV).

The bank stressed that all services are designed to comply with the EU’s new Markets in Crypto-Assets (MiCA) law, meaning customers initiate transactions themselves through the app.

MiCA compliance

Ripple’s European managing director, Cassie Craddock, said these developments reflect the market impact of MiCA among traditional European banks. With MiCA now in place, she explained, banks across the bloc feel more confident about launching digital asset services that customers have requested.

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BBVA executives echoed this sentiment, while adding that the partnership allows the bank to expand its end-to-end crypto services

Francisco Maroto, who leads BBVA’s digital asset unit, noted that Ripple’s custody system offers the operational reliability and security needed to build customer trust.

He added:

“Through this agreement we can deliver on our goal of supporting our customers to explore digital assets, backed by the strength and security of a bank like BBVA.”

This collaboration follows earlier projects between Ripple and BBVA in Turkey and Switzerland.

Notably, BBVA’s Switzerland had previously collaborated with Ripple-owned Metaco to build its digital asset operations in 2023.

Mentioned in this article

Binance is taking another step towards damage control by teaming up with the BBVA. Spain’s Second bank. The new arrangement allows customers to post the US Department of Treasury as margins. the It’s clear When trying to isolate the user fund from Exchange risk, it is shown that Binance is trying to clean up the image.

Responding to ongoing scrutiny

This move follows intense regulatory pressure. After billions of dollars fines and ongoing questions about user fund safety last year, Binance has little room to loosen it. Collateral for traders who hold regulated banks appears to be a deliberate effort to rebuild trust without waiting for permission.

binance x bbva@binance Combining the team with the third largest bank in Spain, BBVA, to ensure that clients do not exchange assets as independent custodians.
Move The Move aims to rebuild the collapse of Trust Post-Ftx after Binance’s $4.3 billion fine in 2023.
Client funds are held by the BBVA in the US… pic.twitter.com/bq4fagohom

-Narcos (@misternarcos) August 8, 2025

Traders keep their funds in the bank

The idea is simple. Users will deposit collateral directly with BBVA. These funds go to the US Treasury Department, and Binance accepts them as margins for the transaction. Exchanges never touch money. that’s right a Selection subject A transition from an era when platforms pooled client assets and moved behind the scenes.

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Traditional banks start to take the wheels

The BBVA is more than just an institution. the It’s deeply established in Europe’s It already offers crypto products in the financial system and Switzerland. By partnering with a bank of this size, Binance sends a message that he is willing to work within the system, at least on paper. this It adds to the slow trend of crypto companies that are leaning towards old-fashioned finance due to their structure.

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Timing is in line with policy momentum

Global regulators are ultimately taking custody rules for crypto. With the US european unionauthorities are considering how exchanges manage customer assets. This Binance BBVA placement occurs just like those conversations hit new gear. the It’s not a coincidence.

Layers of user safety

For everyday traders, this means one less thing to worry about. Instead of hoping Binance will maintain the solvent, they know that their collateral is locked in another bank account and supported by government bonds. If Binance gets into trouble, the funds should remain untouched. Such firewalls have been missing from the space for too long.

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Can this set a new standard?

Other platforms may take notes. If this model works, it could move the industry away from dangerous, self-supporting towards banking setups. The idea of splitting custody from a transaction is not new, but it is gaining traction rapidly as the market matures and compliance costs rise.

What’s next for Binance and BBVA

The big unknown is whether Binance will roll out this widely or continue to limit it. If the intake is strong, more banks will be able to enter the photo. For now, this is a test case. But if it sticks, it may reconstruct how crypto exchanges operate.

Binance is trying to play more cautiously, in the wake of regulatory blowbacks and industry meltdowns. By taking charge of BBVA as collateral, the It is trying to show that it can evolve into users and regulators. The interests are high, and this may be one of the more grounded moves that the exchange has been making for a long time.

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Bitcoin Price maintained its position above $115,000 on Friday as Binance, the world’s largest Bitcoin and crypto exchange, partners with Spain’s BBVA Bank to provide third-party custody services and explores key steps towards institutional grade security.

The partnership allows Binance customers to store assets in US Treasury securities held by BBVA, Spain’s third largest bank, and the exchange accepts them as a margin of trading. This arrangement effectively separates trading activities from assets custody and provides an additional layer of security for investors involved in exchange risk.

The move comes as a $4.3 billion settlement with US regulators in 2023 continues to restructure the trust following the $4.3 billion settlement over money laundering violations. The exchange implements more stringent controls and clearer disclosures about fund management, such as allowing clients to use third-party custodians such as Sygnum and Flowbank.

BBVA is increasingly active in the Bitcoin and crypto sectors, launching crypto trading and custody services through this year’s mobile app. The bank also takes a bold attitude by advising private clients to allocate up to 7% of their portfolio to Bitcoin and Cryptocurrency, reflecting the growing institutional trust in crypto.

The custody arrangement addresses one of the main concerns that emerged following the collapse of FTX in 2022. Under the new structure, if Binance faces operational or regulatory challenges, Treasury securities under the control of the BBVA will safely insure customer funds.

This partnership represents a new standard for Bitcoin and crypto exchange security. The integration of traditional banking infrastructure with Bitcoin and crypto trading platforms could accelerate institutional adoption by providing a familiar, regulated framework.

The development is amid accelerating adoption of Bitcoin by companies, with the number of public companies holding Bitcoin on their balance sheets rising to over 200.

Market analysts suggest that the Binance and BBVA partnership can set precedents for similar arrangements between Bitcoin and Crypro exchanges and traditional banks. The move could effectively bridge the gap between traditional finance and Bitcoin and attract more institutional investors who are hesitant to enter the Bitcoin market due to custody concerns.

The volume of major Bitcoin and crypto exchanges remains stable following the news, with Bitcoin prices continuing to trade between $115,000 and $116,000. A calm response in the market suggests that as the Bitcoin and the crypto industry matures, the development of the institutions is increasingly normalised.