Spanish bank BBVAIn collaboration with Singapore -based SGX FX, individual customers paved the way for the purchase and sale of crypto money through direct platforms. Integration announced as a first in the European market CoindesqueAccording to the initial Bitcoin And Ethereum Provides 24/7 transaction. The infrastructure is based on the same risk and pricing model as BBVA’s frame in foreign exchange transactions.
7/24 crypto money access to individual customers in Europe
Integration, BBVA customers in a single ecosystem crypto currency And it allows foreign exchange transactions with the same user experience. Procedures are carried out uninterruptedly thanks to liquidity collection and instant price broadcast, while ordering and risk monitoring mechanisms are carried out with in -house standards. Initially BTC And Eth While supporting the transactions, the process flow is continuously open in accordance with the processes on the currency side.
BBVA’s macro trading unit leader Luis Martinsemphasized that customers want to buy and sell crypto currencies through a reliable system. In a statement, crypto money is rapidly articulated in the global financial structure and banks should protect internal control architecture while responding to demand.
SGX FX On the side of the foreign exchange technology experience spread over 25 years stands out. The company provides banks a platform resistant to live processing conditions by offering pricing, distribution and risk tools in a single integration. Data centers in London, New York, Tokyo and Singapore make global access and low -delay connection.
Mica Compliance and Role of SGX FX infrastructure
Entering into force at the beginning of this year European Union‘s Crypto Asset Markets Regulation (Mica) regulation has paved the way for institutions with high audit standards to provide crypto currency services. The cooperation between the BBVA and the SGX FX is designed with the aim of being compatible with the legal regulation and meets the customer demand while systematically meets the legal requirements. Thus, the individual segment is subject to control, traceable and reportable process flow.
SGX FX’s liquidity collection and risk management tools helped the BBVA’s procedures to crypto currencies for years. Integration, which provides fast launching for banks without the need for full stack of change, provides time -win while reducing operational costs. More crypto currencies will be added to the system over time and additional product layers (eg advanced order types) are expected to be commissioned.
