The Spanish bank BBVA has collaborated with Singapore’s SGX, for example, to allow retail customers to trade digital assets directly through its platforms.
The integration, which marks a first for the European market, said companies on Thursday, will initially support Bitcoin and Ether, which offers 24/7 trade in the same framework that BBVA uses for currency.
SGX has been a digital assets and blockchain tech enthusiast for several years, while BBVA has also been at the forefront of banks when it comes to crypto.
SGX, for example, provides banks aggregation, pricing, distribution and risk management tools, while maintaining operations across the most important global data centers in London, New York, Tokyo and Singapore.
“For example, SGX has built its reputation over 25 years by providing a platform hardened by decades of live trade to the global FX markets. By tightening the integration of digital assets into our existing FX offers, we enable banks such as BBVA to move quickly, launch seamlessly and serve growing client demand-alive without need for a full stack. Trivedi, COO, SGX eg, for example, side-side-over-salt without the need for a full stack replacement, ”.
The European Union’s markets in Crypto -assets (MICA) regulation have opened the path too much regulated companies to offer crypto services and by working with SGX, for example, BBVA positions itself to comply with these requirements while meeting rising client demand.
“Digital assets are quickly becoming an integral part of the global financial system. It is natural for our customers to be able to trade these assets using the same reliable system,” said Luis Martins, Global leader of Macro Handel at BBVA.
