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Swiss subsidiary of BBVA launches Bitcoin-backed investment account

The Swiss arm of Spanish banking giant BBVA has launched a new type of investment account called New Gen with support for buying and storing bitcoin.

According to BBVA, the bank’s clients from many different countries can open a new investment account. countries, including the countries of the European Union, Mexico, Argentina and others. To do this, the client must complete a 15-minute video interview and make a deposit of $ 10,000.

In addition to Bitcoin, the New Gen program allows you to invest in stocks of technology companies and funds. The focus is on promising areas like artificial intelligence or 3D printing. The account also supports the function of «tracking and emulating» the portfolios of investors such as Cathie Wood or Warren Buffet.

“With the New Gen program, we want to attract new types of investors who are interested in new sectors with great potential. The account provides access to new investment ideas and assets, with some of the best rates in Switzerland and with all the guarantees of BBVA, ”said Javier Rubio, Director of Consumer Solutions at BBVA Switzerland.

A cryptocurrency wallet within the New Gen account allows you to store, buy and sell bitcoins. It integrates with the BBVA banking application, allowing clients to track all the parameters of their investments.

The new investment account expands the cryptocurrency services of the Swiss subsidiary of BBVA. In mid-June, the bank launched a separate offer for trading and storing bitcoin.

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