Swiss BBVA Bank Announces the Launch of a New Generation of Digital Investment Accounts

Banco Bilbao Vizcaya Argentaria (BBVA), Switzerland's second largest bank, has launched a new digital investing account that enables clients to diversify their portfolios through innovative industries.

BBVA Swiss bank has launched the "100%" digital investment account, often referred to as the "Next Generation Account," a new service geared at satisfying the needs of a new generation of tech-savvy customers looking to invest more innovatively. The account can be utilised in environmentally friendly companies and even in cryptocurrency.

Customers can invest in a library of firms and funds arranged around 11 disruptive technology themes, including autonomous vehicles, robotics, circular economy, 3D printing, and even cryptocurrencies. The catalogue will replicate the portfolios of prominent investors like Cathie Wood and Warren Buffet, allowing consumers to invest in both traditional and digital assets.

BBVA Switzerland's Customer Solutions Director, Javier Rubio, stated the following about the new development:

“CUSTOMERS CAN INVEST IN TRADITIONAL ASSETS SUCH AS STOCKS OR MUTUAL FUNDS AS WELL AS IN A 'CRYPTOCURRENCY WALLET' FOR CRYPTOCURRENCIES.”

Along with mutual funds, the Next Generation Account will enable consumers to use, store, purchase, and sell Bitcoin, as well as access any other cryptocurrency wallet they like. The wallet will be fully connected with the bank's mobile app, which allows users to monitor their Bitcoin holdings, as well as those of other digital assets, funds, and investments.

The bitcoin wallet is incorporated into the bank's mobile app, simplifying the process of submitting taxes. It will grant consumers access to a verified account and comprehensive transaction history.

BBVA will provide its new banking solutions in a variety of markets around the European Union and South America. The client must be a resident of an EU member state to open and operate such a digital investment account. Additionally, Chile, Peru, Argentina, Colombia, and Mexico will be able to purchase the goods.

Rubio stated that the bank is seeking new investors with its "Next Generation" investment opportunity.

BBVA and Financial Services for Cryptocurrency

BBVA Bank's commitment to expanding its digital asset trading services remains unwavering.

BBVA bank began offering Bitcoin trading and custody services to its Swiss customers in June. Beginning June 21, the bank will offer Bitcoin trading to all private banking customers interested in cryptocurrencies.

BBVA bank said around this time period that its Bitcoin trading services would be included into its asset investment catalogue for private investment clients. Clients can view the performance of their Bitcoins alongside the rest of their portfolio in this manner.

Additionally, the bank claimed that it intends to expand its services to additional cryptocurrencies, but underlined that the cryptocurrency desk will not offer advisory services for digital assets.

Currently, the bank allows customers to convert between Bitcoin and fiat currencies automatically in order to avoid losses due to price volatility.

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