Ripple has announced a deal to provide crypto custody services to Spain’s BBVA bank, enhancing their existing partnership as European banks adopt the Markets in Crypto-Assets (MiCA) regulatory framework. BBVA will utilize Ripple’s institutional custody service for its Bitcoin and Ether retail trading and custody solutions. Francisco Maroto, BBVA’s head of digital assets, stated that Ripple’s service helps meet the required standards for an end-to-end custody system. Cassie Craddock, Ripple’s European managing director, noted that MiCA has been a catalyst for local banks advancing in crypto initiatives, pointing out BBVA as a leader in innovation. This collaboration builds on previous partnerships, including BBVA's backing of Ripple at the end of 2023 and the use of Ripple’s services by Garanti BBVA in 2024. The implementation of MiCA has spurred traditional banks, like BBVA, to engage in the crypto sector, following trends seen in other major banks across Europe.

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