Spain's CaixaBank, Kutxabank and Renta 4 plan to launch encryption services

According to Cryptonews citing Spanish media "El Español", Spanish banking giants CaixaBank, Kutxabank and Renta 4 will follow BBVA into the cryptocurrency field and plan to start offering services related to crypto assets to their customers. The media wrote that since the EU's MiCA regulations came into effect at the end of last year, many traditional banking companies are paying attention to the cryptocurrency market. MiCA has "opened the door for banks to start providing cryptocurrency custody and sales services". However, several other major Spanish banks including Bankinter, Sabadell, Unicaja and MyInvestor stated that they are "not developing" services related to cryptocurrencies. Meanwhile, Santander Bank and its subsidiary Openbank "refused to comment" on their own cryptocurrency plans.

Spokespersons for CaixaBank and Kutxabank said they are still “formulating” plans for offering cryptocurrency trading. But spokespeople confirmed that both banks have not yet submitted applications with CNMV (National Securities Market Commission). Meanwhile, Kutxabank said it hopes to offer customers options for crypto asset custody, purchase and sale. It confirmed it is already “processing” its CNMV application. Reportedly, CaixaBank is Spain's third largest bank.