BBVA Switzerland expands crypto service with Avaloq technology

Wednesday 12 January 2022 13:12 CET | News

Switzerland-based subsidiary of the Spain-based bank BBVA has announced expanding its integrated crypto service. 

The bank originally offered trading and custody services for Bitcoin, which have now been expanded to include Ether. Both cryptocurrencies can now be automatically exchanged for any fiat currency on the BBVA app using a personalised wallet. This service is based on Avaloq's Crypto-Assets solution and the crypto management system, along with other asset classes, is linked to Avaloq's banking platforms.

The upgrade enables investments in traditional and crypto assets in the same investment portfolio. According to a BBVA Switzerland representative, Ether has been added as the cryptocurrency offers all guarantees for compliance with regulatory requirements. Furthermore, BBVA Switzerland intends to further expand its portfolio of digital assets throughout 2022. 

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Keywords: product upgrade, cryptocurrency, Ethereum, crypto asset
Categories: Blockchain & Cryptocurrencies | Cryptocurrencies
Countries: Switzerland
This article is part of category

Blockchain & Cryptocurrencies