Swiss banking giant BBVA is launching a digital investment account that offers crypto wallet features, according to a company release.
The new digital investment account is called New Gen, which allows users to deposit $10,000 in USD, euros, or Swiss francs. Individuals must complete an online form and video-identification call to obtain access. Users can then use their new BBVA crypto wallet to store, track, buy and sell bitcoin in the BBVA app.
“The new account offers a multitude of ideas so that every client can invest in what is of interest to them and in line with their principles, without obstacles or barriers, with one of the most competitive rates in Swiss banking and with all the guarantee and security of BBVA,” Javier Rubio, director of client solutions at BBVA Switzerland, said in a statement.
The move to add digital wallet services expands the bitcoin custody and trading services BBVA began offering in June. The Swiss bank joins the likes of Goldman Sachs, Morgan Stanley, and other large-scale financial institutions that have moved to offer crypto services this year.