Garanti BBVA Kripto, the Turkish subsidiary of the Banco Bilbao Vizcaya Argentaria (BBVA) Group, has announced that it will start offering cryptocurrency trading services to the general public, in collaboration with the Spanish exchange Bit2Me. The news was released through a statement on the social network X.
Bit2Me will be the execution center for Garanti BBVA Kripto, taking care of settling customers' cryptoasset purchase and sale orders. According to the Spanish exchange, this agreement marks a milestone in the adoption of cryptocurrencies in one of the most dynamic markets in the world.
Abel Peña, Bit2Me's sales director, pointed out to specialized media that this step marks the beginning of an expansion in service offerings, especially now that the Markets in Cryptoassets (MiCA) regulation has already come into force across the European Union.
Although Garanti BBVA Kripto had announced cryptoasset services since January 2024, it is important to note that these were initially offered in pilot test format and were not available to the general public.
Turkey has established itself as one of the largest cryptocurrency markets in the world. According to the latest Chainalysis Global Adoption Index, the country ranks 11th. This strong interest has attracted the attention of banking institutions, such as BBVA, which is currently the second largest bank in Spain (behind only Banco Santander).
According to Peña, BBVA decided to expand its functions in the Turkish market due to a favorable regulatory environment. With the full implementation of MiCA (Cryptoasset Marketplace) last December 30, financial institutions will now be able to receive approval from national regulators to offer their clients digital asset services such as BTC and ETH.
Likewise, Bit2Me's sales director highlighted that many of these institutions are already aligned with the Spanish exchange and are awaiting the green light to launch their services in Europe. In addition, growing global support for cryptocurrencies, including the backing of US President-elect Donald Trump, has further boosted the banking sector's interest in this emerging technology.
BBVA is not the only European bank to enter the world of cryptocurrencies. Deutsche Bank, Germany's largest bank, has also shown interest in the technology. Right now, the company is developing its own layer 2 solution for Ethereum, known as Project Dama 2, which is currently in pilot phase. This new layer, built using ZkSync technology, promises to improve transaction efficiency by significantly reducing gas costs and increasing processing speed.
Source: Gustavo López / Criptonoticias.
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