Swiss branch BBVA launches Ether transaction service, German Savings Bank plans to conduct pilot projects

The Swiss branch of BBVA, one of Europe's largest banks, announced that it will expand its custody and cryptocurrency business and launch ethereum trading services. In addition to the previous Bitcoin, users can view digital assets and traditional financial assets on the App, and can be exchanged for Euros, U.S. dollars and any legal tender.

BBVA encryption service

BBVA Swiss branch’s encrypted asset service started on June 21 this year, providing private banking customers with bitcoin transaction and custody services, and plans to gradually expand to other cryptocurrencies. The chief executive said at the time: slowing down the pace of development can further test the service and Increased security. Although encrypted assets have high volatility and high risk, it can be found that investors still have a strong demand for diversification of their investment portfolios.

The BBVA encryption service is integrated with the bank App. In addition to viewing encrypted currencies and traditional financial assets, users can also view the investment performance of other client assets and funds (such as Cathie Wood, Buffett).

BBVA announced on 12/13 that it will increase the custody and transaction services of ether. The cryptocurrency can be exchanged for euro or any legal currency. BBVA emphasizes that the cryptocurrency can be converted through multiple sources, so there is no problem of insufficient liquidity, and it can be used for 24 hours. Handle multiple orders of any size.

BBVA expects to continue to expand its encryption services in the next few months and position itself as a pioneer in the use of blockchain technology in banks.

In addition, foreign media pointed out that the German Savings Bank will also launch cryptocurrency services next year.

50 million users of Savings Bank

Foreign media "FinanceFWD" research pointed out that the German financial sector, major funds, and municipal institutions are all embarking on the development of encrypted wallets, and the German Savings Bank Group (Sparkasse) is also planning to conduct a pilot program to open users to trade Bitcoin and Ether.

Sparkasse has about 50 million users, but in particular, it owns about 370 scattered cities in Germany and operates independently. Its committee will vote early next year, and if approved, the first version of the encrypted wallet will be online later next year.

Since each savings bank operates independently and will decide whether to integrate encrypted transaction services individually, although 50 million users seem to be a great benefit, some encryption communities still take this news calmly, and the German Savings Bank will also do so. No comment.