BBVA Enhances Institutional Crypto Solutions with USDC Integration

September 10, 2024

BBVA has integrated the stablecoin USD Coin (USDC) into its services in Switzerland, allowing institutional clients to manage USDC alongside traditional investments. This move enhances efficiency and enables faster, more secure cryptocurrency trading.

The addition of USDC follows previous integrations of Bitcoin and Ether, expanding BBVA’s digital asset solutions for its clients.

BBVA Adds USDC to Strengthen Institutional Crypto Services in Switzerland

On Monday, the Spanish banking giant BBVA announced its latest enhancement to its crypto asset services in Switzerland with the inclusion of USD Coin (USDC). This integration is designed to improve the operational efficiency of its institutional clients.

BBVA’s institutional and private banking clients in Switzerland can now manage their USDC funds alongside traditional investments. The bank stated, “Clients can exchange, custody, or automatically convert USDC almost in real-time to euros, dollars, or any other currency.”

The integration allows institutional clients to manage their cryptocurrency trading more efficiently on exchanges. Stablecoins like USDC are commonly used by fund managers and large enterprises for trading on various cryptocurrency exchanges, enabling faster transactions.

Additionally, stablecoins offer a way to hedge against the volatility of other cryptocurrencies by converting assets into stablecoins to preserve value during market fluctuations, according to the bank.

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Launched in 2018 on the Ethereum blockchain by Circle and backed by Coinbase, USDC offers price stability and faster transaction speeds. It is also regularly audited to ensure compliance with U.S. anti-fraud regulations.

This integration marks BBVA’s third cryptocurrency offering after Bitcoin and Ether, further solidifying the bank’s commitment to providing innovative digital asset management solutions for its clients.

Philippe Meyer, Head of Digital Solutions and Blockchain at BBVA, said, “Our institutional clients need options to safeguard the assets they manage. We will continue analyzing all crypto assets they are investing in to expand our offering with additional innovative solutions.”

BBVA’s continued expansion into the digital asset space reflects its commitment to meeting the evolving needs of institutional investors in the cryptocurrency market while providing safe and efficient tools for managing and trading digital assets.

Source: news.bitcoin.com

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BBVA Enhances Institutional Crypto Solutions with USDC Integration

BBVA Adds USDC to Strengthen Institutional Crypto Services in Switzerland

Source: news.bitcoin.com

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