Crypto Journalist
Amin Ayan
Crypto Journalist
Amin Ayan
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Ripple is deepening its ties with BBVA, announcing on Tuesday an agreement to provide its institutional-grade digital asset custody technology to support the Spanish bank’s expanding crypto operations.
Key Takeaways:
- BBVA will use Ripple’s custody tech to manage BTC and ETH for retail clients in Spain.
- The partnership builds on earlier collaborations in Switzerland and Turkey.
- Ripple’s expansion reflects a broader post-MiCA push by European banks into crypto.
The new deal will see BBVA use Ripple Custody to manage bitcoin (BTC) and ether (ETH) holdings for retail customers in Spain, according to a Tuesday announcement.
The move comes following the bank’s launch of a digital asset trading and custody service earlier this year.
Ripple Powers Banks with Compliant Crypto Custody Solutions
Ripple’s custody technology enables banks to offer secure and compliant crypto services while maintaining operational efficiency.
BBVA’s Francisco Maroto, Head of Digital Assets, said the partnership allows the bank to deliver a full custody experience directly to its clients using “proven and trusted technology.”
This isn’t Ripple’s first time working with BBVA. The companies have already partnered in Switzerland and Turkey, and previously collaborated on real-time cross-border payments.
“Now that the EU’s Markets in Crypto-Assets regulation (MiCA) is established across Europe, the region’s banks are emboldened to launch the digital asset offerings that their customers are asking for,” said Cassie Craddock, Ripple’s Managing Director for Europe.
The move follows broader trends across Europe, where major banks are pushing into digital assets following the rollout of MiCA.
In July, reports surfaced that Deutsche Bank plans to launch crypto custody services for clients in 2025. Standard Chartered and Boerse Stuttgart Digital Custody are also advancing crypto offerings across Europe.
Last month, BBVA was also linked to Binance, reportedly serving as an independent custodian for the exchange’s clients.
Ripple’s expanded role with BBVA underscores how regulated financial institutions are rapidly integrating crypto services, relying on infrastructure partners to ensure compliance and scalability in a post-MiCA environment.
Ripple Expands Dollar-Backed Stablecoin RLUSD to Africa
As reported, Ripple has extended the reach of its US dollar-backed stablecoin, Ripple USD (RLUSD), into Africa, forming new partnerships with fintech platforms Chipper Cash, VALR, and Yellow Card.
The move opens regulated access to a stable digital dollar for institutional users across the continent, where demand for reliable cross-border payment infrastructure continues to grow.
Launched in late 2024, RLUSD is issued by a New York trust company regulated by the state’s Department of Financial Services and has surpassed $700 million in supply on Ethereum and the XRP Ledger.
Beyond payments, RLUSD is also playing a role in real-world use cases. In Kenya, Mercy Corps Ventures is piloting the stablecoin in climate risk insurance programs.
In one initiative, RLUSD is held in escrow and released automatically when satellite data detects drought conditions.
Another pilot provides rainfall insurance, with funds disbursed in the event of extreme weather.
In July, Zug-based crypto bank AMINA also announced that it will support Ripple stablecoin RLUSD, initially offering custody and trading services.
In a statement sent to Cryptonews, AMINA said it has become the first bank globally to directly support the stablecoin. The bank plans to expand its services in the coming months.
