BBVA in Switzerland to Launch New Cryptoasset Offering from June 21

Spanish financial group BBVA yesterday announced that it will launch a new cryptoasset offering in Switzerland to complement investment offering available in traditional financial assets for Private Banking clients.

As detailed in the official announcement, the new services will be available from Monday, June 21. At that time, all BBVA clients in Switzerland will be able to invest in bitcoin, through a digital wallet integrated into their investment portfolio. In addition, clients will also be able to convert their Swiss francs, Euros and Dollars into bitcoins, and vice versa.

With this new offering, BBVA expects to position itself as a reference entity in the adoption of blockchain technology and offer the opportunity to its clients to invest in this type of digital assets that have a great future. The bank also said that it will continue to improve and expand its cryptocurrencies offering over the coming months.

BBVA would be following a number of its industry peers in developing crypto services. In recent weeks, Goldman Sachs, Morgan Stanley, Deutsche Bank, Bank of New York Mellon, Citi and other financial institutions have entered the space too, or have plans to soon.