Garanti BBVA Crypto Asset Trading Platform, part of the Garanti BBVA Group, recently announced that Korcan Abalı will be stepping down as CEO and Onur Güven will replace him. Güven has been a senior manager at a variety of renowned financial technology companies.
Blockchain
BBVA Asset Management (AM) has launched a pilot project capable of applying blockchain technology to asset management, in line with its strategy of harnessing innovation for the benefit of its clients. To succeed, it has registered a short-term fixed-income ‘tokenized’ investment fund through the regulatory sandbox of the Spanish National Securities Market Commission (CNMV).
BBVA is one of the first banks in Visa's global network to use VTAP, a new Visa platform that enables financial institutions to create and manage digital tokens backed by fiat currencies such as the euro and the dollar. BBVA will use VTAP to create tokens on the public Ethereum blockchain with expected live pilots in 2025.
Garanti BBVA Digital Assets, the first initiative of Garanti BBVA Financial Technologies Inc., is now offering crypto wallet service on its mobile platform. This marks the first time in Turkey that a bank subsidiary has developed and implemented a crypto currencies wallet with its own resources. Garanti BBVA Digital Assets now allows customers to transfer and store bitcoin (BTC), Etherum (ETH) and USD coin (USDC) assets on its mobile platform, Garanti BBVA Crypto.
In 2022, more than $3.8 billion worth of cryptocurrencies were stolen. Traditional banks are therefore regaining ground to become service providers as custodians of crypto assets. This was the position advocated during the event hosted by El Confidencial by Alfonso Gómez, CEO of BBVA Switzerland. For more than two years now, BBVA Switzerland has enabled its customers to manage bitcoin, ether, and the rest of their investments from the online banking app.