The Banker recognizes the potential of our crypto service

2 min. reading
About BBVA, BBVA in Switzerland, Crypto, New Gen, Private banking / 28 June, 2022

Belén Villar Client Solutions

The British magazine The Banker, belonging to the Financial Times publishing group, has recognized the great potential of our BBVA Switzerland cryptoasset trading and custody service, which allows us to offer our clients the opportunity to invest in cryptocurrencies and experimenting with Blockchain technology.

“Not many banks in Europe are engaging with cryptocurrencies, even though many of their customers are. However, BBVA, through its global private banking arm in Switzerland, is one of the few that are actively engaging, experimenting with different protocols in the market and educating itself, as well as its clients”. Thus begins the article written by The Banker journalist, Joy Macknight, who recognized BBVA’s contributions to the financial industry and did not hesitate to meet with Alfonso Gómez, CEO of BBVA Switzerland, to understand firsthand the implications of being the first TIER 1 bank in Europe and one of the first in the world to offer this service and to talk about everything that is happening around this new world. 

“When we realised how strong blockchain technology was a few years ago, we decided to analyse where the potential business opportunities were for the BBVA group and BBVA Switzerland, and, even more crucially, how we can put these opportunities in the hands of our customers. We have the responsibility to create these new paths of investments.” Alfonso Gómez points out in the interview. 

“We have the responsibility to create these new paths of investments.”

The high level of popularity and positioning gained by bitcoin and ether in recent years, with an important role in the global economic and geopolitical game, has has put on alarm most international financial organizations, supervisory bodies, central banks and governments.  For BBVA, “Switzerland is proactive. FINMA [Swiss Financial Market Supervisory Authority], for example, is always willing to help. And the regulators are quite comfortable when traditional banks such as BBVA approach them and say that we are thinking about this kind of technology.” assures Gómez. 

Adrien Treccani, founder and CEO of METACO adds that “the country is extremely innovative, with talent, good universities and a passion for this field. However, our banking industry is far from being the fastest mover. BBVA is an exception, but the large bank banking names in Switzerland are still at the innovation phase”. 

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