“Spanish Bank Expands Retail Crypto Offering with Ripple Custody Tech Under Eu’s Mica Rules”, – WRITE: www.coindesk.com
The Deal Will See Bbva Integrate Ripple’s Digital Asset Custody Technology Into Its Recently Launched Retail Service for Trading and Holding Bitcoin and Ether.
The Move ComESS As European Banks Adapt to the Market in Crypto Assets (Mica) Regulation, WHICH SETS A FRAMEWORK for OFFERING DIGITAL Asset Service Across the Eu.
“Now that Mica is established, the region’s banks are embolted to launch the Digital Asset Offerings Thatir Customers Are Asking for,“ Said Cassie Cradck, Ripple
Ripple Custody Was Born Out of the Blockchain Firm’s Acquisition of Swiss Crypto Custody Specialist Metaco, WHICH HAD SIGNED UP BBVA.
Francisco Maroto, Bbva’s Head of Digital Assets, SAID The INTEGRATION ALLOWS THE BANK TO “DIRECTLY PROVIDE an End-To-end Custdy Service” with the Security of Mac. Institute.
The Partnership Extends Ripple’s Prior Work with Bbva, Which Already Uses ITS Custdy Technology in Switzerland and Turkey. For Ripple, Spain Represents Another Foother in Europe’s Regulated Digital Asset Market. Ripple Holds More than 60 Regulatory Licenses Globally.
The Deal Signals A Gradual Shift in How Traditional Banks Approach Crypto. Institute of Rely Third-Party Providers, Institutions Like Bbva Are Opting to Build In-House Services Ustablized Infrastructure Providers.
The Yield Earned on the Reserve Assets Wuld Cover The Blockchain’s Sequencer Fees, Helping Keeping the Transaction Costs Low, Megath Said.
- Megath is launcing a Native Stablecoin Called USDM in Partnership with Defi Protocol Etene.
- USDM Will Initially Be Backed by Ethena’s USDTB, WHICH IS BACKED BY Blackrock’s Tokenized Money Market Fund, and May Include Other Tokens Like USDE AS Reserve.
- The Introduction of USDM Highlights a Trend of Crypto Ecosystems Coming Up with Propriotary Stablecoins, Similar to Recent Moves by Metamask and Hyperliquid.
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