BBVA Adds USDC Stablecoin to Its Digital Asset Service in Switzerland

BBVA's institutional and retail banking customers in Switzerland can now manage their USDC funds on the same platform on which they manage their traditional investments.

BBVA customers in Switzerland can now manage their USD Coin (USDC) funds on the same platform they use for their traditional investments, the bank announced on Monday.

The integration will allow BBVA’s institutional clients to accelerate their trading operations by enabling them to transfer value more efficiently using blockchain and securing their stablecoins in BBVA’s vault, the bank said in a statement.

This move follows BBVA’s launch of a digital asset service in Switzerland in 2021, which initially offered Bitcoin and Ether. In 2023, the company migrated its custody function to Metaco’s Harmonize platform.

“We want to provide our retail customers with easy access to the tokenized products they are most interested in and which they cannot access through traditional financial institutions. In the meantime, our institutional clients need to be provided with options to guarantee the assets they manage,” Philippe Meyer, Head of Digital Solutions and Blockchain at BBVA in Switzerland, said in a statement.

“We will analyze all the crypto assets you invest in to further expand our offering with more innovative solutions,” he added.

The above is the detailed content of BBVA Adds USDC Stablecoin to Its Digital Asset Service in Switzerland. For more information, please follow other related articles on the PHP Chinese website!