Ripple has signed an agreement with BBVA to provide its digital asset custody technology to the Spanish bank.
The move supports BBVA’s recent announcement of its new crypto-asset trading and custody service for bitcoin and ether, which it has made available to retail customers in Spain.
Through the agreement, BBVA will apply Ripple’s digital asset self-custody technology for the safekeeping of tokenized assets, including crypto-assets.
The technology is already in use at BBVA's Turkish subsidiary Garanti BBVA and at BBVA Switzerland.
Francisco Maroto, head of digital assets at BBVA, says: “Ripple’s custody solution allows us to leverage proven and trusted technology that meets the highest security and operational standards, allowing BBVA to directly provide an end-to-end custody service to its customers. Through this agreement we can deliver on our goal of supporting our customers to explore digital assets, backed by the strength and security of a bank like BBVA.”