Clients of BBVA Switzerland will be able to buy, store, and
trade crypto assets with a digital account that comes with a
cryptocurrency wallet. The new banking product will be available across
the European Union as well as in a number of markets in South America.
BBVA Switzerland Account Facilitates Cryptocurrency Investments
The Swiss subsidiary of Spain’s banking giant Banco Bilbao Vizcaya
Argentaria (BBVA) has announced the launch of a “100% digital investment
account.” With the offering, the bank is trying to meet the needs of a
new type of tech-savvy clients who want to invest “in more innovative,
sustainable sectors and even in crypto-assets.”
The ‘New Gen’ account, BBVA Switzerland
explained, offers access to a catalog of companies and funds. They are
organized into 11 themes including climate change, and by disruptive
technologies like robotics, 3D printing, and autonomous vehicles. “The
catalog also seeks to emulate the portfolios of major investors such as
Cathie Wood or Warren Buffet,” the bank noted, adding:
The client can invest in traditional assets such as shares or investment funds, and also has a ‘wallet’ for cryptocurrencies.
A European customer who would like to take advantage of the digital
investment account must be a resident of an EU member state. The product
is also offered in Mexico, Colombia, Argentina, Peru, and Chile among
other countries. Javier Rubio, Director of Client Solutions at BBVA
Switzerland stated:
With New Gen we want to reach a new type of investor,
attracted by new sectors that have great potential to transform the
future.
Rubio emphasized the new account boasts a wide range of investment
ideas allowing every client to put their money into what is of interest
to them. He insisted the offering does away with obstacles and barriers
while providing “one of the most competitive rates in Swiss banking”
along with BBVA’s guarantee and security.
To start trading, a client has to first register via a dedicated form
and then make a video identification call. BBVA Switzerland claims the
whole verification procedure takes less than 15 minutes. The minimum
deposit requirement to open an account is $10,000 or an equivalent
amount in either euros or Swiss francs.
BBVA Switzerland, which specializes in private banking, stressed that
the New Gen account provides access to a full range of online banking
services and IBAN numbers in dollars, euros, or Swiss francs. The crypto
wallet is fully integrated with the bank’s mobile app which allows
users to track their bitcoin holdings and other assets.
The array of crypto-related offerings by Swiss banks has been
constantly expanding. In May of this year, the state-owned Postfinance
bank launched
an investment and payments app supporting 13 cryptocurrencies in
cooperation with online trading platform Swissquote. In February,
177-year-old Swiss bank Bordier offered
its clients exposure to bitcoin and crypto trading services through a
partnership with Sygnum, one of Switzerland’s licensed crypto banks.
source link : https://news.bitcoin.com/bbva-switzerland-launches-new-gen-digital-account-with-integrated-crypto-wallet/
