Spanish bank Cecabank and crypto exchange Bit2Me to offer a crypto service for banks, pending approval from the Spanish securities regulator.
Spanish lender Cecabank and cryptocurrency exchange Bit2Me have teamed up to launch a MiCA-ready crypto platform for traditional financial institutions, technically ready but still awaiting a green light from Spain’s securities regulator.
In a Monday press release, the exchange said the platform includes crypto custody and RTO (reception and transmission of orders) services. While Bit2Me manages trading, market data, and custody for over 100 cryptocurrencies, Cecabank will provide regulatory support and banking infrastructure, the press release reads.
“With this alliance, Cecabank strengthens its roadmap as a reference provider of post-trade services in the digital asset space, reflecting our established role in FIAT custody.”
Aurora Cuadros, corporate director of securities services at Cecabank
The platform is meant to give European financial institutions a quicker, compliant way to enter the crypto market, with tools that can be adapted to each bank’s needs under MiCA rules, the companies say.
Cecabank isn’t alone in Spain’s banking sector exploring crypto as BBVA, the country’s second-largest bank by assets, plans to launch a new crypto trading service allowing customers to buy and manage Bitcoin and Ethereum. BBVA customers will be able to handle crypto transactions alongside their regular banking, with custody managed on the bank’s own platform, avoiding third-party providers.