Garanti BBVA Financial Technologies, a subsidiary of Garanti BBVA, is entering the digital asset arena with its venture named Garanti BBVA Digital Assets, offering transfer and custody services for cryptocurrencies Bitcoin and Ether.
Facts
- Garanti BBVA Financial Technologies, a subsidiary of Turkish financial services company Garanti BBVA, is launching its first digital asset venture, Garanti BBVA Digital Assets.
- The venture’s initial launch includes transfer and custody services for cryptocurrencies Bitcoin and Ether.
- The venture has entered the pilot phase of development, indicating the subsidiary’s first step into the digital asset space.
- A dedicated team has been formed to lead the new venture and develop blockchain technologies, showcasing increasing customer interest in digital assets.
- The venture’s beta app is live, offering custody services for BTC and Ether initially, with plans to expand and introduce new products.
- To enhance trust in crypto transactions and storage, the venture is introducing a crypto custody wallet alongside its offerings.
- BBVA’s private banking arm in Switzerland previously launched a similar crypto trading and custody service in June 2021.
- BBVA launched the ‘Blockchain-to-go’ initiative to educate individuals and companies about blockchain and crypto earlier this year.
