Garanti BBVA Financial Technologies, the fintech subsidiary of Garanti BBVA Bank in Turkey, has launched its first venture by entering the digital asset trading and custody market.
The new business will initially offer services for the transfer and custody of bitcoin and ether in the market for cryptoassets, with pilot projects already underway.
According to the chairman of Garanti BBVA Digital Assets, M. A. Süzer, the company has assembled a “sizeable team” with the goal of creating cutting-edge Blockchain technologies. This is the Spanish bank BBVA’s second foray into the market for digital assets.
In June, BBVA Switzerland made its first crypto-asset trading and custody service available to all of its private banking clients after six months of testing with a select group of users.