BBVA Switzerland, the Swiss franchise of Spanish multinational financial institution BBVA, has expanded its cryptocurrency custody and trading service with the addition of Ether to its investment portfolio.
Its private banking clients and new gen customers will now have access to both Bitcoin and Ether, a statement from the company said.
These digital assets can be viewed along with other traditional investments on BBVA’s app, and can automatically be converted to euros, dollars or any fiat currency.
According to BBVA Switzerland, this move makes it the first traditional bank in Europe to incorporate Ether into its service.
The crypto asset service went live for all customers in June last year.
BBVA Switzerland aims to continue expanding its portfolio of digital assets in the coming months.
The new service is currently available in Switzerland, and expansion to new countries or customer groups will depend on market conditions in terms of maturity, demand and regulation.
“We decided to add ether to our crypto asset ‘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,”
said Alfonso Gómez, CEO of BBVA Switzerland.
Featured image: Photo by DrawKit Illustrations on Unsplash
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