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BBVA Switzerland Becomes the First European Traditional Bank to Add ETH Support -Breaking

by Mike Robinson

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BBVA Switzerland becomes the First European Traditional Bank To Add ETH Support

Bitcoin, the world’s largest cryptocurrency, has enjoyed the first-mover advantage, as it has long been the preferred asset for financial institutions looking to venture into the cryptoverse.

In a shift of trends, however, Banco Bilbao’s Swiss subsidiary (NYSE:) Vizcaya Argentaria BBVA (MC :)), announced that it has added, the second largest cryptocurrency to its product range.

BBVA Switzerland, a traditional bank in Europe has added Ethereum to its services. Since June 2020, the bank giant has been offering its crypto services with.

Alfonso Gomez is the CEO at BBVA Switzerland. He says that the decision was driven by investors wanting to diversify portfolios. He explains;

We added ether to the crypto-asset “wallet” because they, along with bitcoin, are the best protocols for investors and offer all of the compliance guarantees.
BBVA Switzerland revealed, in addition to this announcement that they will be expanding their cryptocurrency portfolio over the coming months. This will make it simpler for customers to put their money into the new digital realm.

With New Gen, the bank’s 100% digital investment account, users can access Bitcoin and Ethereum services with an initial deposit of $10.000.

To The Flipside

  • Concerned about the industry’s future growth, International Monetary Fund has called for “comprehensive, consistent and coordinated” global regulations for cryptocurrencies

What You Need to Care About

As Ethereum and other altcoins gain more popularity with financial institutions and venture capitalists, the notion that Bitcoin is the cryptocurrency with value has changed.

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