Crypto custody platform Garanti BBVA Kripto will offer cryptocurrency trading services to the public

PANews reported on January 2 that according to CoinDesk, the cryptocurrency custody platform Garanti BBVA Kripto, owned by Turkey’s fifth largest bank Garanti BBVA, will provide cryptocurrency trading services to the public. The service is performed by Spanish crypto exchange Bit2Me and marks an important step for European banks to accelerate their entry into the crypto space. Spanish banking group BBVA holds an 86% stake in Garanti BBVA. BBVA had previously piloted this service in Türkiye, taking advantage of the relatively relaxed local regulatory environment to seize the opportunity.

The Europe-wide Crypto-Asset Markets Act (MiCA) comes into full effect on December 30, 2024, providing a clear regulatory framework for banks and other financial institutions. According to Bit2Me sales director Abel Peña, more European banks are expected to launch cryptocurrency spot trading services in the first quarter of 2025.