Several banks in Spain plan to launch Crypto Assets services

In a recent TechFlow update, on March 12, according to Cryptonews citing El Español, Spanish banks CaixaBank, Kutxabank, and Renta 4 plan to follow in the footsteps of BBVA by providing encryption asset-related services to customers.

With the entry into force of the EU’s ‘MiCA’ encryption asset market supervision law at the end of last year, the traditional banking industry began to pay attention to the encryption market. The regulation provides conditions for banks to provide custody and sales services for encryption currencies. A Spanish foreign bank has announced that it will provide Bitcoin (BTC) and Ethereum (ETH) trading services later this year through a mobile application.

Kexa Bank said it is “researching” the idea of launching encryption asset services in Spain this year, especially targeting “young investors interested in technology and innovation”. Kutaha Bank, on the other hand, hopes to offer customers options for encryption currency custody, purchase, and sale. Both banks have not yet submitted applications to the National Securities Market Commission (CNMV) in Spain.