Banking refers to the industry and activities involved in managing money, including the acceptance of deposits, lending of funds, and provision of various financial services. Banks act as intermediaries between individuals or businesses with surplus funds who want to save and earn interest, and those who need to borrow money. The primary functions of banks include safeguarding deposits, facilitating transactions, providing loans, and offering investment products. The banking system also plays a crucial role in the economy by influencing money supply, regulating currency, and offering payment processing services. Various types of banks exist, including commercial banks, investment banks, and central banks, each serving different purposes and types of customers. Banking is governed by regulatory frameworks to ensure stability, security, and consumer protection.
BBVA is leading the way in integrating cryptocurrencies with traditional banking, breaking industry norms by offering Bitcoin and Ether trading and custody services. The European Union's MiCA regulation has brought…