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Ripple digital asset custody has taken another significant step in Europe as Spanish banking giant BBVA announced a partnership expansion with Ripple. The deal will see BBVA integrate Ripple’s custody technology into its retail crypto services, enabling customers in Spain to securely trade and store bitcoin and ether.
The move comes as European banks adjust to the Market in Crypto Assets (MiCA) regulation, a sweeping EU law designed to standardize digital asset offerings across member states. For Ripple digital asset custody, the development signals growing confidence among regulated banks to provide crypto services directly to retail clients.
“Now that MiCA is established, the region’s banks are emboldened to launch the digital asset offerings that their customers are asking for,” — Cassie Craddock, Managing Director for Europe at Ripple, said in a statement.
Ripple digital asset custody was originally developed after Ripple’s acquisition of Swiss crypto custody firm Metaco. BBVA was among Metaco’s early clients, making the transition to Ripple’s integrated custody solution a natural progression.
Francisco Maroto, Head of Digital Assets at BBVA, emphasized the importance of the partnership for the bank’s strategy: “This integration allows us to directly provide an end-to-end custody service with the security customers expect from a major financial institution,” he explained.
Ripple digital asset custody is already deployed in Switzerland and Turkey, where BBVA has been offering crypto custody services. Spain now joins this network, strengthening Ripple’s foothold in Europe’s highly regulated financial sector. Ripple currently holds more than 60 licenses worldwide, reflecting its global push to align with regulatory standards.
The agreement between Ripple and BBVA reflects a broader shift in how traditional banks are approaching crypto markets. Rather than outsourcing custody to third-party providers, institutions are increasingly opting to build in-house services based on established infrastructure. Ripple digital asset custody offers a turnkey solution that enables banks to operate within regulatory frameworks while retaining customer trust.
Industry observers say this model could set the tone for future bank-crypto collaborations in Europe. “Subsidizing crypto custody through trusted banking infrastructure helps reduce market risks while ensuring compliance with MiCA,” — Ana González, a financial regulation analyst at Madrid’s Institute of Digital Finance, told El País.
For Ripple digital asset custody, Spain represents more than just another market. The country’s adoption of MiCA provisions positions it as a testbed for integrating crypto into mainstream retail banking. With BBVA leading the charge, other European banks may soon follow suit, using Ripple’s custody infrastructure to meet client demand while remaining compliant.
The timing is significant, as retail interest in digital assets across Spain and the wider EU continues to grow. By embedding Ripple digital asset custody directly into its offerings, BBVA aims to bridge the gap between traditional finance and emerging digital markets.
“Institutions like BBVA are demonstrating that crypto custody doesn’t have to be experimental—it can be delivered within the same frameworks that protect everyday banking,” — Craddock added.
Ripple digital asset custody is likely to play a pivotal role as more banks respond to consumer demand for secure, regulated crypto services. With Spain now in the fold, Ripple strengthens its case as a go-to partner for financial institutions navigating Europe’s new digital asset landscape.
The partnership not only enhances BBVA’s position in Spain but also signals the gradual normalization of digital assets within mainstream banking. If successful, Ripple digital asset custody could serve as the blueprint for banks across Europe looking to expand into crypto under MiCA’s oversight.
