BBVA Switzerland will make available to its private banking clients the option of buying, selling and guarding crypto assets, after carrying out a series of tests with a group of selected people for six months. This new service is only available in Switzerland and will begin serving its private banking clients who are interested in investing in digital assets on June 21. Currently, BBVA Switzerland’s offer provides services for the purchase and sale of Bitcoin and its custody, in order to extend it to other cryptocurrencies. The entity will not provide advice on such investments.
The CEO of BBVA Suiza, Alfonso Gómez , explained that this progressive deployment allows BBVA Suiza to test the operation of the service, strengthen security and, most importantly, discover that investors are interested in encryption or digital assets such as a way to diversify the investment portfolio, despite its volatility and high risk.
Innovation, the order of the day
Gomez believes that this is only the first step in the world and that his bank is providing quality banking services to the world of crypto assets. With this innovative product, BBVA has established itself as the standard entity for the adoption of blockchain technology . It has also ensured that in the coming months the offer of technological assets will be improved and expanded.
One of the most important attractions of BBVA Switzerland’s products is their seamless integration into the Bitcoin management system application. This application allows you to verify the evolution of the client’s assets, along with the rest of the invested funds. Therefore, this service is unprecedented because it allows you to invest and combine digital assets and traditional financial assets in the same portfolio . This provides great benefits in terms of ease of integration, checking account statements, tax returns, and more.
A new safe and efficient system
With a personalized digital wallet for each client, bitcoins can be automatically converted to euros or other common currencies and vice versa without delay. This is possible thanks to the fact that BBVA can work with multiple sources for cryptocurrency conversion , invest around the clock, process orders of any size, and guarantee the ability to process multiple orders at the same time. BBVA also offers market security guarantees that make its clients not worry at all about their privacy and their operations.
Currently, BBVA has clear regulations and has only implemented this system in Switzerland because this country has an ecosystem with high levels of acceptance for these digital assets. Expansion to new countries or other types of clients depends on the market in terms of terms, demand and regulation.