Banco Bilbao Vizcaya Argentaria (BBVA) — Kingdom of spain's second-largest banking concern — is gear up to offer Bitcoin (BTC) trading and custody services in Switzerland.

According to a release issued on Friday, BBVA Switzerland will begin Bitcoin trading for all private banking clients interested in crypto assets from June 21.

This initial crypto trading service isonly for Bitcoin but the bank says it has plans to extend its offering to other cryptocurrencies. Withal, BBVA says its crypto trading desk will not include any digital nugget investment advisory services.

Every bit part of the proclamation, BBVA Switzerland revealed that the Bitcoin trading service will grade part of the bank's asset investment catalog for individual banking clients. Thus, customers will be able to view the performance of their BTC positions alongside the rest of their portfolios.

According to the argument, this in-app integration will offering simplicity for customers in terms of streamlined data for argument of accounts and revenue enhancement filing purposes among others. BBVA Switzerland also stated that customers volition be able to convert between Bitcoin and fiat currencies automatically to prevent losses due to cost volatility.

For BBVA Switzerland CEO Alfonso Gómez, the move represents a melding of quality banking services and innovations in the crypto asset space. "With this innovative offering, BBVA positions itself every bit a benchmark establishment in the adoption of blockchain technology," the CEO said.

Regarding its decision to first introduce the production in Switzerland, BBVA highlighted the country's crypto-friendly policies equally a major determining gene.

Related: Swiss cyberbanking giant UBS to reportedly offer rich clients crypto investments

Indeed, some Swiss banks have previously appear crypto trading services for their clients. Back in February, Bordier & Cie, a 170-year-quondam Swiss financial establishment partnered with digital bank Sygnum to offer cryptocurrency trading for assets similar Bitcoin, Ether (ETH), and Bitcoin Greenbacks (BCH) among others.

As previously reported by Cointelegraph, Swiss cyberbanking giant UBS announced plans to offer limited exposure to crypto investment for some of its wealthy clients.

Back in September 2020, authorities in the country formalized a comprehensive ready of laws for crypto and blockchain. Phase one of the new legal framework came into event at the first of Feb with part two expected to follow in the summer.