Swiss BBVA Bank Announces New Generation Digital Investment Account and Crypto Wallet Integration!

0

Banco Bilbao Vizcaya Argentaria (BBVA), Switzerland’s second largest bank, has announced a new digital investment account that allows its clients to build portfolios in innovative industries.

 

BBVA Swiss bank has introduced the “100%” digital investment account, popularly known as the “Next Generation Account”, a new offering aimed at meeting the demand of a new type of tech-savvy customers who want to invest more innovatively. The account can be used in sustainable industries and even cryptocurrencies.

The account allows customers to invest in a catalog of companies and funds organized into 11 themes of disruptive technologies such as autonomous vehicles, robotics, circular economy, 3D printing and even cryptocurrencies. The catalog will emulate the portfolios of major investors such as Cathie Wood and Warren Buffet, thus enabling clients to invest in both traditional and digital assets.

Javier Rubio, Director of Customer Solutions at BBVA Switzerland, said of the new development:

“Customers can invest in traditional assets such as stocks or mutual funds and also have a ‘cryptocurrency wallet’ for cryptocurrencies.”

In addition to mutual funds, the Next Generation Account will offer customers the ability to use, store, buy and sell Bitcoin as well as access any crypto wallet they want. The wallet will be fully integrated with the bank’s mobile app, which monitors customers’ Bitcoin holdings along with other digital assets, funds and investments.

The cryptocurrency wallet is integrated into the bank’s mobile app, which will simplify the tax filing process. It will provide users with a verified account and detailed transaction history.

BBVA’s new banking products will be available in various markets in European Union countries and South America. A client wishing to open and operate such a digital investment account must reside in an EU member state. The product will also be available in Chile, Peru, Argentina, Colombia, Mexico, among other countries.

Rubio noted that with this “Next Generation” investment offer, the bank wants to reach new investors.

BBVA and Cryptocurrency Services

BBVA bank continues its commitment to expand its digital asset trading services.

In June, BBVA bank launched Bitcoin trading and custody services for its Swiss-based clients. From June 21, the bank began offering Bitcoin trading services to all private banking customers interested in cryptocurrencies.

During this time, BBVA bank announced that its Bitcoin trading services will form part of its asset investment catalog for private investment clients. This way, clients can see the performance of their Bitcoins along with the rest of their portfolio.

The bank also stated that it plans to expand its services to other cryptocurrencies, but clarified that the cryptocurrency desk will not include any digital asset investment advisory services.

The bank currently allows its customers to automatically convert between Bitcoin and fiat currencies to avoid losses due to price volatility.

LEAVE A REPLY

Please enter your comment!
Please enter your name here