BBVA Switzerland, one of the largest banks in Europe, has announced its plan to expand its crypto services by adding Ethereum (ETH), the second-largest crypto by market cap, to its portfolio.
According to the report, BBVA Switzerland’s private banking clients and customers with a New Gen account will be able to manage both Bitcoin (BTC) and Ethereum (ETH).
Users can view these digital assets along with other traditional investments on the BBVA app. Also, both Bitcoin and Ethereum can be automatically converted to euros, dollars, or any fiat currency.
It’s worth noting that BBVA Switzerland is the first traditional bank in Europe to incorporate Ethereum (ETH) into its service.
Highlighting why the bank decides to add Ethereum, CEO of BBVA Switzerland, Alfonso Gómez, said the new development played out due to the increased demand of investors who want to diversify their portfolios.
“We decided to add ether to our cryptoasset ‘wallet’ because, together with bitcoin, they are the protocols that spark the most interest among investors, while also offering all the guarantees to comply with regulation.”
BBVA Switzerland’s Goal on Crypto Services Expansion
As stated in the report, the goal of BBVA Switzerland is to continue expanding the portfolio of digital assets in the coming months. This innovative offer has also positioned BBVA as a leading bank in the adoption of blockchain technology.
For now, BBVA is offering this new service in Switzerland as it has a very advanced blockchain ecosystem, with clear regulation and a high level of adoption of these digital assets.