Garanti BBVA Kripto, supported by Turkey’s fifth largest bank Garanti BBVA, is preparing to launch crypto trading services. The initiative is expected to be implemented through Bit2ME, a Spanish crypto exchange. With the expected development, the future of cryptocurrency services in Europe looks promising. Dive in for more details!
Garanti BBVA Kripto to Launch Crypto Services
Reports say that Garanti BBVA is all set to provide cryptocurrency trading services to the public. Reports suggest that the initiative will be implemented through Bit2Me. What this development highlights is a growing interest from European banks to enter the cryptocurrency sector.
BBVA and Turkey’s Role in Crypto Expansion
Banco Bilbao Vizcaya Argentaria holds at least 86% stake in Garanti Bank. It is said that BBVA has played a huge role in the latest development.
Notably, Turkey has a relaxed approach towards crypto regulation. Experts believe that the relaxed regulatory environment of Turkey has also contributed immensely towards materialising this development.
What’s Next for European Banks in Crypto?
The development is expected to change the attitude of European banks towards the crypto industry. Notably, Abel Pena, the head of sales at Bit2Me, forecasts that more European banks will begin offering crypto trading services in the first quarter of this year.
In conclusion, Garanti BBVA Kripto’s launch represents a milestone in integrating crypto services into mainstream banking in Europe.
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