Spain’s BBVA is launching a Bitcoin trading service for private banking clients in Switzerland interested in investing in crypto assets.

BBVA said on Friday that the new business is launching on June 21. The bank is present in Switzerland through a fully owned franchise.

This new service will include bitcoin trading and custody services with an aim to expand it to other cryptocurrencies as well.

It should be noted that BBVA won’t be offering any advice on these investments, only the option to invest.

The bank actually found that there is a “significant desire” among investors for crypto-assets to diversify their portfolios despite their high volatility and risk, said BBVA Switzerland's Chief Executive Alfonso Gomez in a statement.

However, these new cryptocurrency services would be limited to Switzerland because of their clear regulation (unlike the US) and widespread adoption in the country.

“Its extension to new countries or other types of customers will depend on whether the markets meet the appropriate conditions in terms of maturity, demand, and regulation.”

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