Spanish Bank BBVA Expands USDC Stablecoin Service

Spanish Bank BBVA expands USDC Stablecoin services (Photo; Doc. Reuters)

JAKARTA - BBVA, a Spanish banking institution, announced the expansion of their crypto services in Switzerland by adding USDC stablecoins to their digital portfolio. The move aims to accelerate institutional client trading operations by leveraging value transfer efficiency through blockchain technology. BBVA not only strengthens its position in the global digital asset market, but also opens up new opportunities for clients to manage their assets more securely and efficiently.

BBVA first entered the crypto market in 2021, offering Bitcoin and Ethereum trading in response to growing demand from their clients. Now, by adding USDC's stablecoins tied to the US dollar'BVA expands access to their crypto trading for institutional clients, including big investors using NewGen accounts in Switzerland.

This new service allows clients to exchange, manage, or convert USDC to euros, dollars, or other currencies in real-time. BBVA is also collaborating with Metaco, a blockchain infrastructure provider, to ensure security in the management and storage of their client's digital assets through the Harmonize platform.

BBVA emphasizes that the integration of USDC not only facilitates access to the crypto market, but also accelerates the trading operations of its clients. With blockchain technology, asset transfers that previously took time can now be completed in seconds. This speed is a major advantage for institutional investors who seek efficiency in global transactions.

In addition, BBVA ensures that security remains a top priority. Their digital asset storage system is equipped with a default technology that offers the highest level of security, thus increasing client confidence in BIVA crypto services.

By adding USDC, BBVA wants to offer easier access for private clients to enter the crypto market. Reporting from Coinspeaker, Philippe Meyer, head of blockchain solutions at BBVA, states that banks are committed to providing simple access to tokenization products that their clients want, especially products that are not available on traditional financial platforms.

USDCs tied to the US dollar provide a stable alternative for clients who want to reduce the risk of volatility often associated with crypto assets such as Bitcoin and Ethereum. This makes USDC an attractive choice for investors who prefer stability over high crypto market fluctuations.