Banco Bilbao Vizcaya Argentaria (BBVA) Switzerland has added ether to the investment portfolio. This has made BBVA the first traditional bank in Europe to integrate ether into its services. BBVA’s private banking clients and customers with a New Gen account will be able to manage both bitcoins and ether.
Through the New Gen account, clients can deposit $10,000. This is applicable to the EU, Mexico, Colombia, Argentina, Peru, Chile, and other regions. They can view these digital assets on the BBVA app with other traditional investments. The bitcoin and ether can be automatically converted to fiat currency.
Alfonso Gomez, CEO of BBVA Switzerland, says they decided to add Ether to their crypto assets wallet because like bitcoin, it sparks the most interest among investors. He said the bank’s new digital asset custody service has been well-received among private banking customers and new investors. “The greatest demand comes from investors who want to diversify their portfolios – from individual customers and family offices to institutional investors.”
It should be noted that BBVA underscores Latin American countries, Europe and Turkey, where investors are keen to invest in digital assets. BBVA Switzerland, as per a statement, will continue expanding the portfolio of digital assets in the coming months.
Moreover, BBVA has positioned itself as a leading bank in the adoption of blockchain technology. This makes it easier for the customers to invest in digital assets. BBVA Switzerland has a very advanced blockchain ecosystem with clear regulation and a high level of adoption of cryptocurrencies.