In Brief:
- The digital investment account allows users to build crypto portfolios based on themes.
- To access a New Gen account, clients need at least 18 years of age and a minimum of $10,000 to deposit.
- Users get a full range of online banking services and IBAN numbers in dollars, euros, etc., and get a wallet to buy/sell bitcoins.
Swiss banking giant BBVA is launching New Gen, a 100% digital investment account, that can be accessed with an initial deposit of $10,000.
According to the announcement, The New Gen account offers access to a catalog of companies and funds organized into 11 themes. It includes climate change and the circular economy or; by technologies such as robotics, 3D printing, or autonomous vehicles.
The catalog also seeks to emulate the portfolios of major investors like Cathie Wood or Warren Buffet. The clients can register through a form, make a video-identification call and can start trading within 15 minutes.
For requirements to access the New Gen account, clients need to be at least 18 years of age, reside in Mexico, Colombia, Argentina, among others. In order to get the benefit of services, it is necessary to deposit a minimum of $10,000 in USD, euros, or Swiss francs.
“The new account offers a multitude of ideas so that every client can invest in what is of interest to them and in line with their principles, without obstacles or barriers, with one of the most competitive rates in Swiss banking and with all the guarantee and security of BBVA,” says Javier Rubio, Director of the Client solution at BBVA.
New Gen’s objective is to make it easier for clients to transfer their interest to their investments portfolio in a simple way. The client can invest in traditional assets and also has a ‘wallet’ for cryptocurrencies, providing it with differential characteristics.
“The New Gen account allows customers to invest in a positive, conscious and committed way because, at BBVA, we believe that today’s investments are what will define the future,” says Alfonso Gomez, CEO, BBVA Switzerland.
Users get access to a full range of online banking services and IBAN numbers in dollars, euros, or Swiss francs. In addition, they get a wallet for storing, purchasing, and selling bitcoins, all fully integrated with mobile banking apps. This integration also gives an advantage in terms of simplicity when carrying out transactions, verifying account status, filing taxes, etc.
BBVA is present in Switzerland through a 100% Group franchise dedicated to international private banking services.
The Swiss bank joins financial institutions like Goldman Sachs, JP Morgan, and other large-scale financial institutions that have moved to offer crypto services this year.
