Institutional crypto custody accelerates adoption

The popularity that Blockchain technology has achieved, playing a significant role in the global economic and geopolitical game, has made the entire cryptocurrency universe too big to be ignored. As long as institutional investors join the Blockchain ecosystem, the confluence between the traditional financial system and this new emerging digital economy is starting to become more sensible than ever. 

Currently, there are several solutions on the market for the storage or custody of cryptocurrencies based on the degree of security and convenience required to manage a portfolio, known as Cold, Hot and Warm wallet. As a result, it is proliferating a wide range of products and services provided by fintechs, exchangers and major banks, such as BBVA Switzerland, which are established as trusted intermediaries in the custody of digital assets. Certainly, institutional investment in digital assets is strongly accelerating the adoption and regulation of the industry worldwide.

Cointelegraph Research‘s latest report, Institutional Demand for Cryptocurrencies Global Survey 2022, in which BBVA Switzerland has participated as one of the pioneering financial institutions offering custody and trading of cryptoassets, seeks to respond these inquiries to gain a deeper understanding of how institutional investors are accessing the crypto market and what infrastructure they demand. The survey, which collects 32 questions answered by 84 institutional investors distributed in Asia, the United States and Europe, has revealed that 43% have exposure to digital assets and 19% plan to buy them in the future. On the other hand, Switzerland is the leading jurisdiction in terms of value of investment in digital assets.

“The service is specifically designed for clients seeking diversification in this type of assets and who want to personally manage their portfolios.”

BBVA has understood the need for incorporating cryptoassets into the banking offer of its Swiss subsidiary, allowing to combine both traditional and digital financial assets in the same investment portfolio under the highest security standards. Recently, Protein Capital, a Spanish asset manager specialized in Blockchain and digital assets, has reached an agreement with BBVA Switzerland for the custody of Bitcoin and Ethereum protocols.

“The service is specifically designed for clients seeking diversification in this type of assets and who want to personally manage their portfolios. The main advantage of this service is the ability to integrate the management of their traditional portfolio with the digital one, while belonging to a bank with an international presence, regulated and with more than 150 years of history”, explains in the interview Silvia Ibarra, BBVA's Client Solutions Director in Switzerland.