Ripple has entered into a partnership with BBVA to supply its digital asset custody technology to the Spanish financial institution. This collaboration aligns with BBVA’s recent launch of a new crypto-asset trading and custody service, which enables retail customers in Spain to trade bitcoin and ether.
Under this agreement, BBVA will implement Ripple’s self-custody technology to safeguard tokenized assets, including various cryptocurrencies. This advanced technology is already operational within BBVA’s Turkish subsidiary, Garanti BBVA, as well as at BBVA Switzerland.
Francisco Maroto, the head of digital assets at BBVA, commented, “Ripple’s custody solution enables us to utilize trusted technology that adheres to the highest security and operational standards. This empowers BBVA to offer a comprehensive custody service to our clients. With this partnership, we strive to assist our customers in navigating the world of digital assets, supported by the reliability and strength of BBVA.”