- Ripple has partnered with Spanish banking giant BBVA to provide institutional-grade custody technology for BBVA’s new retail Bitcoin and Ethereum trading service across Spain.
- The partnership aligns with Europe’s MiCA regulation and extends Ripple’s existing relationship with BBVA, which already uses Ripple’s custody technology in Turkey and Switzerland.
- Despite positive developments including stablecoin expansion, increased partnerships, and growing XRP adoption through ETF applications and treasury programs, XRP’s price has declined 9% over the past month.
- XRP currently trades at US$2.96 with analysts divided on whether potential ETF approvals will drive significant price increases or signal market saturation.
Ripple has partnered with Spanish banking giant BBVA to provide custody technology for its new retail crypto trading and custody service covering Bitcoin (BTC) and Ethereum (ETH).
BBVA earlier had made crypto-asset trading available to all customers in Spain.
The bank will utilise Ripple Custody, an “institutional-grade digital asset self-custody technology”, to “deliver a scalable and secure custody service for tokenised assets, including crypto-assets”, according to a statement released on Tuesday.
The deal, aligned with Europe’s MiCA regulation, expands Ripple’s European presence and positions it as a trusted infrastructure provider for banks entering digital assets.
Cassie Craddock, Managing Director for Europe at Ripple, called BBVA “one of the region’s most innovative banks”, adding that Ripple was “proud to support its ambitions with the most secure and compliant digital asset technology on the market”.
The Ripple–BBVA deal in Spain extends their ongoing partnership, with Ripple already supplying custody technology for BBVA’s operations in Turkey and Switzerland.
Related: QMMM Stock Explodes 1,736% After US$100M Digital Assets Bet
Lawsuit Ends, Yet Positive Developments Fail to Reanimate XRP Price
Since the lawsuit between Ripple and the US Securities and Exchange Commission (SEC) ended, things have been going rather well for the company.
There has been the expansion of Ripple’s own stablecoin, RLUSD, into Africa, which we reported earlier, and an increased alliance with Thunes, as previously noted.
Ripple is expanding its partnership with Thunes to boost cross-border payments, building on their 2020 collaboration. Thunes will integrate Ripple Payments into its SmartX Treasury System to streamline global money movement, improve payout experiences, and expand reach across key markets.
XRP itself – the cryptocurrency that was the subject of the lawsuit – has also seen increasing adoption. Not only are there several pending applications for US spot XRP exchange-traded funds (ETFs), but XRP as a treasury asset is also gaining momentum.
For example, Nasdaq-listed VivoPower has invested US$30 million (AU$45.4 million) into Doppler Finance as part of a planned US$200 million (AU$302.8 million) XRP treasury yield programme. The move highlights Doppler’s growing role in institutional XRP finance, giving companies new avenues to generate yield from their XRP holdings.
Despite these positive developments, the price movement of XRP has been somewhat disappointing. Over the past month, the world’s third-largest cryptocurrency has declined by 9%, although over the past seven days it managed to recover 4%.
At the time of writing, XRP is trading at US$2.96 (AU$4.48), with analysts divided over whether an XRP ETF will bring record inflows and push the price higher, or if it marks the “beginning of the end”.
Related: Rex and Osprey File for First Dogecoin ETF, With XRP, and other Funds on the Radar
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