Banco Santander SA is looking to expand into digital assets. According to a Bloomberg report citing sources familiar with the matter, the bank plans to introduce a stablecoin and provide cryptocurrency services to retail clients through its digital banking platform. The report reveals that these plans are still in the early stages. Banco Santander Leaps Into Stable Token Issuance Undoubtedly, this move is part of Santander’s larger goal to include digital assets in its services. This move also comes with the growing stablecoin market, and altcoins are seeing widespread adoption from key industry players. Recall that in November 2023, Santander Private Banking International started allowing clients with Swiss accounts to trade Bitcoin (BTC) and Ethereum (ETH). The bank uses a regulated custody model to ensure the security of these assets. As reported by TheCoinRise, this specialized trading option is subject to predefined criteria, providing a strategic and discerning approach to cryptocurrency involvement. The bank could become an important player in the evolving digital finance ecosystem by developing a stablecoin and expanding its retail crypto offerings. BBVA Set to Launch Stablecoin on Ethereum Blockchain In 2024, BBVA, a Spanish multinational banking giant and Santander’s rival, said it plans to launch its stablecoin on the Ethereum blockchain . Notably, this project is powered by Visa’s new tokenization platform, VTAP. This move could also make BBVA the first global bank to issue a stablecoin on the network. Meanwhile, BBVA’s stablecoin initiative on the Ethereum blockchain is not just a technical experiment. It is a bold testament to the future of banking. The pilot, expected to go live in 2025, will begin with a selected group of customers. The project aims for BBVA to mint, transfer, and redeem stablecoins while leveraging Visa’s VTAP. Above all, it is geared towards offering a seamless experience for its customers. Currently, BBVA is testing its stablecoin core functionalities within the VTAP sandbox. These tests involve issuing, transferring, and redeeming stablecoins on a testnet of the Ethereum blockchain. Stablecoin Demand Still Booming Major financial institutions’ drive to explore a stablecoin project reflects rising interest in the sector . According to recent market data, the total stablecoin market capitalization surged over 30% in 2025 alone, from $205 billion to $251 billion. Austin Campbell, a professor at NYU and founder of Zero Knowledge Consulting, remarked that traditional banks may be “panicking” as stablecoins begin to challenge core banking models. Big Tech is also getting involved. Meta has reportedly begun exploring how to integrate stablecoin payments across its platforms. Intriguingly, this underlines the growing relevance of blockchain-based assets in everyday financial infrastructure. The post Banco Santander To Stablecoin and Retail Crypto Services appeared first on TheCoinrise.com .
