Cryptocurrency: Ripple cooperates with BBVA Spanish Bank to offer storage services

Ripple force. The BBVA Spanish Bank has just announced a partnership with Ripple to offer your customers the services of cryptocurrency storage. This cooperation marks another step in the introduction of digital assets by traditional financial institutions in Europe.

The key points of this article:

• The BBVA Spanish Bank has announced a partnership with Ripple to provide cryptocurrency storage services, which marks the historical milestone in the introduction of digital assets by European banks.
• It’s a partnership that Uses Ripple Custody’s decision, emphasizes the gradual transition of traditional banks to its own cryptocurrency decisions, strengthening the company’s position in the European market.

According to Coindesk, BBVA Bank integrates the technology of storage of digital assets Ripple into your sales service. This step takes place as European banks adapt to regulation Mica (crypto assets market) that sets a framework for providing digital assets in European Union .

And it suits Issuer XRP, who offers his experience in this matter:

“Now that MICA is created, banks in the region are encouraged to launch the digital assets required by their customers.”

Cassie Creddok, Ripple Director in Europe – Source: Coindesk

An internal storage solution that was named Ripple custody is the result of acquiring Metaco, Swiss specialist From cryptocurrency storage .

Ripple announces a new partnership on social networks – source: Account x

Ripple Castediol Services Expanded to Europe Francisco Maroto head of the BBVA digital asset department, said that this integration will allow the bank “ Directly provide comprehensive storage services »With security which customers expect from a large financial institution.

This partnership expands previous work Ripple with BBVA which already uses its storage technology in Switzerland and Turkey. For Brad Garlinghaus, which has more than 60 regulatory licenses around the world, Spain It is another bridgehead in the European market for regulated digital assets.

This cooperation reflects a gradual change in the approach of traditional banks to cryptocurrencies. Instead of relying on extraneous suppliers, institutions such as BBVA choose to create their own services Using proven infrastructure suppliers such as Ripple.

Source: Journalducoin.com