September 9, 2025 — Ripple has deepened its relationship with Spanish banking giant BBVA, empowering the bank to scale its retail crypto offering through integrated custody technology. This marks a major leap in institutional-quality access to digital assets under the evolving EU regulatory landscape.

What’s Happening?

Ripple will now license its Ripple Custody solution to BBVA in Spain, enabling the bank to securely store and manage Bitcoin (BTC) and Ethereum (ETH) for retail clients. The move follows BBVA’s launch of its bank-led crypto trading and custody services earlier this year, positioning the bank as one of Europe’s most forward-thinking institutions.

Why It Matters

This agreement cements Ripple’s institutional role in bridging banks and crypto infrastructure. Ripple Custody—built upon the acquisition of Swiss custody specialist Metaco—provides the framework for compliant, scalable, and secure custody services.

It’s not BBVA’s first venture with Ripple. The bank has already deployed the same infrastructure in Switzerland and Turkey, making this Spanish expansion a natural progression.

Regulatory Tailwinds: MiCA in Play

The timing is strategic. As the EU’s Markets in Crypto-Assets (MiCA) regulation goes live, European banks feel emboldened to offer customer-facing crypto custody and trading services. Cassie Craddock, Ripple’s Managing Director for Europe, highlighted how MiCA’s clarity has unlocked opportunities for traditional financial institutions.

Voices from the Deal

BBVA’s Head of Digital Assets, Francisco Maroto, emphasized the bank’s ability to deliver “end-to-end custody” with institutional-grade reliability and security through this integration.

From Ripple’s side, Cassie Craddock acknowledged BBVA as one of the most innovative banks in the region, now empowered to meet customer demand with proven digital asset infrastructure.

What This Means for Crypto and Traditional Finance

  • For BBVA: A key differentiator—offering in-app BTC and ETH custody bolsters customer trust and retention while keeping competitors at bay.
  • For Ripple: Expanding its footprint across regulated markets, reinforcing its status as a top-tier infrastructure provider in the EU.
  • For European Banking: Signals a shift: rather than outsourcing custody to niche players, banks like BBVA are building integrated, compliant crypto services with institutional partners.
  • For the Ecosystem: This is more than a partnership—it’s a bellwether for crypto’s mainstream embrace. With MiCA etched into law, the boundary between legacy finance and digital assets is fast eroding.

Ripple’s European Canvas

The BBVA-Spain integration brings Ripple to new heights, joining other institutional collaborations in Switzerland and Turkey and deepening its regulatory alignment. Ripple now counts over 60 regulatory licenses worldwide, showcasing its ambition to be a global anchor for banks entering digital assets.

Final Thought

This expansion isn’t about one bank, one service, it’s emblematic of a tectonic shift. As MiCA becomes the guardrail, traditional banks are ramping up digital asset offerings. Ripple is strategically positioning itself as the plumbing that enables this transition.

BBVA’s move with Ripple spells out confidence in regulated crypto, and amplifies the growing convergence of TradFi and digital assets. As institutions move from “if” to “when” in crypto adoption, partners like Ripple will define the architecture.

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