BBVA Launches Crypto Trading and Custody for Retail Clients in Spain
Weekly news up to Monday, 7th of July 2025
👀 NEWS HIGHLIGHT
Nubank announced that it had hired former Central Bank regulatory director Otávio Ribeiro Damaso as a consultant for the institution's regulatory and risk management affairs, a few days after making it official that Roberto Campos Neto, former BC president, had joined the company as its vice-chairman.
According to Nubank's statement, Damaso will act as a permanent observer of Nu Holdings' Audit and Risk Committee and Nu Brasil's Risk Committee, as well as advising the group as a consultant “on any matter related to business or risk environments”.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🔦 DIGITAL BANKING HIGHLIGHTS
⭐️ Swissquote takes full control of Yuh after buying PostFinance’s 50% stake.
⭐️ BBVA launches Bitcoin and Ether trading and custody for retail customers in Spain.
⭐️ Digital lender Zopa expands to Manchester in British banking push.
⭐️ Stripe’s first employee, the founder of fintech Increase, sort of bought a bank.
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🌎 REGIONAL HIGHLIGHTS
UK 🇬🇧
Monzo top UK bank for SME current account switch gains in 2024. Monzo experienced the highest net current account switch gains for SMEs and charities last year, according to the latest data from the Current Account Switch Service (CASS). Continue reading
Revolut, Octopus, and OakNorth join the new Pisces private stock market after being courted by prospective operator London Stock Exchange. The new platform facilitates the trading of shares in private companies, promises to address a longstanding liquidity gap for growth companies and early investors, offering a stepping stone for companies seeking a later flotation on a public exchange.
EUROPE 🇪🇺
Finom validates trust and information security standards with ISO/IEC 27001:2022 Certification across 100+ security requirements. This certification validates Finom’s comprehensive Information Security Management System (ISMS) and demonstrates the company’s commitment to meeting rigorous information security standards expected by financial regulators across Europe.
Revolut follows CaixaBank and launches a new service in Spain. Revolut confirmed that its Pro or Business customers will be able to accept contactless payments using only an iPhone and the Revolut app. Read more
Qonto is likely to apply for a banking licence within the year. “Getting a banking licence would, in the same way, enable us to do more internally, to own more of the value chain and not be dependent on some banking partner’s speed,” Alexandre Prot, CEO and co-founder, said.
Deutsche Bank aims to launch a crypto custody service in 2026. It has enlisted crypto exchange Bitpanda’s technology unit to help build the offering. Its custody project comes as large financial institutions increasingly focus on digital assets, encouraged by new regulations in Europe and a favorable environment in the US.
Trade Republic launches the first Spanish payroll account with Bizum and 2% interest on unlimited cash balances. The new payroll account, which includes Bizum functionalities, completes Trade Republic’s bank offering in Spain, which enables customers to have a fully localised banking experience.
Revolut is rolling out its mobile service in Poland as a pilot program, alongside the UK and Germany. Polish customers can sign up for the waitlist to get early access to full mobile plans. Users can transfer their old number or pick a new one, have a flexible offering, no fixed contract commitment, and a monthly fee starting from zł 25 per month.
Belfius has launched a new partnership with Belgian platform Firsty.app to enhance global mobile banking access for its customers. Through this collaboration, users of the Belfius Mobile app can now manage their finances in over 160 countries and regions without incurring roaming charges.
French B2B FinTech Qonto reaches 600,000 customers and files for banking license. It currently operates with a payment institution license it obtained in 2018, which already enabled it to introduce a form of buy now, pay later. But a credit institution license would let it offer broader lending, savings, and investment options to its target customers.
USA 🇺🇸
Circle applies for US trust bank license after bumper IPO. If the charter is granted by the U.S. Office of the Comptroller of the Currency, it would enable Circle to act as a custodian for its reserves and hold crypto assets on behalf of institutional clients.
Trade Republic launches the first Spanish payroll account with Bizum and 2% interest on unlimited cash balances. The new payroll account, which includes Bizum functionalities, completes Trade Republic’s bank offering in Spain, which enables customers to have a fully localised banking experience.
Payments firm Wise seeks a US national trust bank charter to access Fed Payments. Wise aims to increase the staffing of its US trust company by 20% within three years and plans to relocate its primary share listing from London to the US to enhance liquidity.
Ripple seeks a U.S. banking license, adding to the list of crypto companies. Stablecoins are typically pegged to the dollar or other government-issued currencies, and store reserves in cash or safe assets such as Treasurys to keep a one-to-one exchange ratio in place.
Palmer Luckey, backed by Palantir's Lonsdale, is to launch a crypto-focused bank. The proposed lender, called Erebor, has applied for a national bank charter and plans to serve technology businesses in areas such as artificial intelligence, crypto, defense, and manufacturing.
LATAM
Wise launches Rende+, for foreign currency investments for Brazilians. New solution allows returns on balances in foreign currency and marks the FinTech's advance in an increasingly competitive niche. Keep reading
ASIA
EQIQ anchors $15 million round for InstaBank to support the launch and growth of Iraq’s next-generation digital bank. InstaBank will serve as the cornerstone of EQIQ’s FinTech strategy in Iraq, supporting its broader ambition to digitise financial ecosystems by integrating FinTech, logistics, and social commerce.
AMINA becomes the first bank globally to support Ripple USD as demand for stablecoins surges. AMINA will enable its client base of professional investors, institutions, and corporations to access Ripple’s stablecoin ecosystem with the security and governance that clients expect from a traditional banking partner.
OCEANIA
Westpac and POLi partner to deliver secure open banking payments. With this new integration, POLi transitions to secure, bank-approved open banking APIs, allowing Westpac customers to authenticate and authorise payments directly within Westpac’s secure digital banking environment.
MOVERS AND SHAKERS
N26 appoints Jochen Klöpper as CRO and Managing Director. Effective 1 December 2025, Klöpper will be appointed Managing Director and assume responsibility for risk management and compliance functions. He replaces Carina Kozole, who will leave the company effective 31 July 2025 to take on a new professional challenge.
Kostas Xiradakis joins Snappi as Chief Commercial Officer. In this role, Kostas will lead Snappi’s marketing, sales, and customer experience efforts as the company accelerates its growth and sharpens its focus on customer-first innovation. Read more
Barclays appoints new Chief Operating Officers. Craig Bright, Chief Information Officer, and former Goldman Sachs banker Anne Marie Darling would assume the role of group Co-Chief Operating Officers. Keep reading