On Friday Spain’s BBVA said that it was launching a bitcoin trading service in Switzerland for private banking clients who are interested in digital asset investment.
the new business, launching on June 21, would include bitcoin trading and custody service said the bank and they are aiming to extend other cryptocurrencies.
It would not offer advice on these types of investments.
A “significant desire” is detected among investors said BBVA said during a gradual roll-out.
BBVA Switzerland’s Chief Executive Alfonso Gomez asked to diversify their portfolios despite their volatility and high risk.
Investors saw the largest cryptocurrency, The trading service comes amid growing institutional interest in bitcoin and some companies as a hedge against inflation as governments and central banks turn on the stimulus taps.
China and the United States, have signalled in recent weeks which are the major economies and they develop their own plans with the help of central bank digital currencies.
The country has clear regulation and widespread adoption of digital assets and BBVA said it was limiting this new cryptocurrency service to Switzerland.
Customers will depend on whether the markets meet the appropriate conditions in terms of maturity, demand and regulation and Its extension to new countries or other types.
A fully owned franchise through Switzerland and was presented by BBVA to focus on international banking services.
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