BBVA: We Need to Better Understand the Bitcoin Opportunity

While there were many big-name participants in Coinbase’s most recent $75m funding round, perhaps no name caught more attention than BBVA Ventures, the private equity subsidiary of Spanish multinational bank Banco Bilbao Vizcaya Argentaria (BBVA).

BBVA’s inclusion in the round is especially notable given the continued difficulties companies in the bitcoin and wider digital currencies space continue to face obtaining even operational accounts with which to serve the public.

However, according to BBVA Ventures executive director Jay Reinemann, his company’s decision to back Coinbase does not indicate that its parent bank is willing to open its doors to bitcoin companies just yet.