Spanish bank BBVA expands crypto trading to European retail customers through SGX FX

Spanish banking giant BBVA has entered into a landmark partnership with SGX FX to launch retail crypto trading across Europe. The agreement allows BBVA’s retail customers to buy and sell digital assets; initially Bitcoin and Ether directly from their banking apps.

The collaboration makes BBVA the first European bank to adopt SGX FX’s infrastructure for retail clients, signaling growing mainstream acceptance of cryptocurrencies.

Why BBVA and SGX FX Are Teaming Up

BBVA has been cautiously exploring digital assets for years. In July 2025, it launched a crypto trading and custody service for retail clients in Spain, letting users access Bitcoin and Ether through its existing app. The partnership with SGX FX takes this further by leveraging a ready-made technology stack for pricing, liquidity, and risk management.

“By tightly integrating digital assets into our FX offering, we enable banks like BBVA to launch seamlessly and serve growing client demand without rebuilding infrastructure.” -Vinay Trivedi, COO of SGX FX Sell-side Solutions, said.

For SGX FX, which already provides services across London, New York, Tokyo, and Singapore, the collaboration reinforces its role as a global bridge between traditional finance and digital assets.

Features of the New Service

Assets available: Bitcoin (BTC) and Ether (ETH)

• Access: 24/7 trading through BBVA’s banking platforms
• Regulatory framework: Fully aligned with the EU’s MiCA rules
• Infrastructure: Built on SGX FX’s global crypto trading stack

Luis Martins, BBVA’s Global Head of Macro Trading, explained:

“Digital assets are now part of the global finance system. Our clients want a safe, trusted way to trade them, and we’re delivering exactly that.”

The Significance of Retail Crypto Trading

The new service is about more than just convenience. It reflects a structural shift in finance where traditional banks are legitimizing digital assets by bringing them into regulated environments. For retail investors, it removes friction: no need for third-party exchanges or multiple apps—everything is accessible from the same platform used for everyday banking.

The initiative also highlights how retail crypto trading is becoming a competitive frontier. With BBVA taking the lead, other European banks may soon follow suit to avoid being left behind.

Opportunities and Risks

Opportunities:

• Broader adoption of crypto within mainstream banking.
• Increased trust due to regulation under MiCA.
• One-stop ecosystem for retail clients seeking both fiat and crypto services.

Risks:

• Volatility in crypto markets exposing retail investors to sudden losses.
• Operational challenges, including cybersecurity and custody issues.
• Uncertainty over future regulatory changes in Europe.

Despite these risks, analysts believe BBVA’s move could set a benchmark for banks globally, showing how to scale retail crypto trading responsibly.

What’s Next

BBVA has not confirmed when the service will expand beyond Spain, but insiders suggest rollout to other EU markets is planned in stages. The bank is also building custody capabilities for institutional clients, recently adopting Ripple’s custody solution in Spain, indicating a layered digital asset strategy.

If successful, the BBVA–SGX FX model could inspire other banks to replicate the approach, making retail crypto trading a standard feature of European banking.