BBVA
is now offering cryptocurrency trading to its retail customers throughout Europe, the Middle East, and Africa (EMEA). This makes BBVA the first bank in the region to leverage SGX FX’s platform for digital assets.
SGX FX has announced that BBVA is its inaugural banking client in the EMEA region, enabling them to extend digital asset trading options to individual investors.
This integration allows BBVA’s clientele to engage in direct trading of Bitcoin and Ether through the bank’s pre-existing platforms, all underpinned by SGX FX’s robust infrastructure.
The infrastructure is designed for continuous, 24/7 digital asset trading, utilizing the very same systems that BBVA employs for its foreign exchange (FX) operations.
SGX FX’s technology delivers a suite of functionalities, including aggregation, pricing, distribution, and risk management, ensuring a streamlined and secure trading journey for both FX and digital assets.
Operating from four key global data centers located in London, New York, Tokyo, and Singapore, the company is engineered to assist financial institutions in adapting to evolving regulatory landscapes, such as the EU’s Markets in Crypto-Assets (MiCA) framework.
Vinay Trivedi, COO, SGX FX Sell-side Solutions, stated:
“SGX FX has established its reputation over 25 years by providing a reliable platform, battle-tested through decades of active trading in the global FX markets.”
“By seamlessly incorporating digital assets into our existing FX offerings, we enable banks like BBVA to rapidly adapt, launch effortlessly, and address the increasing demand from their clients – all without the need for a complete overhaul of their systems. BBVA is at the forefront of future-proofing their eFX businesses while simultaneously enhancing customer value.”
Luis Martins, Global Head of Macro Trading at BBVA, added:
“Digital assets are quickly becoming an essential element of the global financial landscape. It is only natural that our customers desire to trade these assets using a dependable and familiar system.”
“Through our alliance with SGX FX, we can effectively support our clients as they explore the realm of digital assets, all while benefiting from the strength and security that a reputable bank like BBVA provides.”
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