BBVA launches crypto trading services 🤑📈; Revolut accelerates financial services expansion 🏦💸; Monzo’s £21 million AML fine 🤕💰
FinTech is Eating the World, 9 July
Hey Everyone,
Good morning & happy Wednesday! Today’s issue is focused on banks & banking challengers as we’re looking into BBVA, which just launched crypto trading services (why it matters & what’s next + interesting bonus dives inside), Revolut that accelerates financial services expansion (new product & services launches that strengthen their Global Financial Super App ambitions + more dives into Revolut inside), and Monzo that just got slapped with a £21 million AML fine (what it’s all about & why it matters for the broader FinTech industry + bonus deep dive into Monzo and their latest financial results). Let’s jump straight into the spicy stuff 🌶️
BBVA launches crypto trading services 🤑📈
The news 🗞️ Spain's second-largest bank BBVA BBVA 0.00%↑ officially launched cryptocurrency trading and custody services for Bitcoin and Ethereum, marking a significant expansion of digital asset services to retail customers in its home market.
The service operates through the BBVA mobile app following regulatory approval from Spain's National Securities Market Commission (CNMV) and represents the bank's third international market entry for crypto services.
Let’s take a look at this, understand why it matters, and what to expect next.