Bank of Spain BBVA has partnered with SGX FX in Singapore to enable retail customers to trade digital assets directly through the platform.
The first integration for the European market said on Thursday it will support Bitcoin and ether and offer 24/7 trading in the same framework that BBVA uses for forex.
SGX was a digital asset and blockchain technology enthusiast for several years, while BBVA was also at the forefront of banks when it comes to crypto.
SGX FX provides banks with aggregation, pricing, distribution and risk management tools while maintaining operations across major global data centres in London, New York, Tokyo and Singapore.
“SGX FX has built a reputation for 25 years by providing a platform enhanced by decades of live trading for the global Forex market. By firmly integrating digital assets into existing Forex products, banks such as BBVA move quickly, launch seamlessly, and deliver the demand for growing clients.
The market in European Union’s Crypto Assets (MICA) regulations paves the way for highly regulated companies to provide crypto services and by working with SGX FX, BBVA will comply with these requirements while meeting increased client demand.
“Digital assets are rapidly becoming an integral part of the global finance system. It’s no surprise that customers want to be able to trade these assets using the same reliable system.”
