Ripple is set to broaden its partnership with Banco Bilbao Vizcaya Argentaria (BBVA), a prominent Spanish bank, to offer enhanced cryptocurrency custody solutions. This strategic alliance aims to cater to the growing demand for digital currency services among BBVA’s clientele.
What Does the New Partnership Offer?
BBVA stands at the forefront of digital innovation through this collaboration, as highlighted by Cassie Craddock, a leading figure at Ripple in Europe. The arrangement involves Ripple providing state-of-the-art cryptocurrency custody solutions to BBVA.
The bank aims to extend its offerings, providing a wider array of crypto custody options backed by Ripple’s technology to bolster security and user accessibility.
How Have Ripple and BBVA Collaborated Previously?
The renewed partnership solidifies the existing relationship between Ripple and BBVA, enabling a more complete service portfolio in the digital currency landscape. This expansion underscores BBVA’s commitment to strengthening its presence in the crypto market across various regions.
The collaborative journey between Ripple and BBVA began in April 2017, marking a milestone with the first real-time international money transfer between Mexico and Spain utilizing Ripple’s groundbreaking technology.
In 2021, BBVA’s Swiss division took a significant step by launching cryptocurrency custody services, utilizing Metaco’s Harmonize platform, a Ripple-owned service. This move was instrumental in elevating BBVA’s crypto services to a corporate level in Europe.
In a significant 2022 initiative, BBVA’s Turkish arm joined forces with Ripple and IBM to enhance security measures in the crypto domain, broadening the bank’s crypto-related endeavors across different geographical areas.
– BBVA utilizes Ripple’s tech for real-time international transfers.
– Swiss division elevates crypto custody with Metaco’s Harmonize.
– Turkish arm partners with IBM and Ripple to enhance crypto security.
This alliance signifies Ripple’s continued influence in the global banking sector and reflects BBVA’s strategic vision to integrate advanced digital currency solutions. Both entities seek to pioneer in addressing the increasing appetite for cryptocurrency services, strengthening their footprint in the rapidly evolving financial landscape.
