Garanti BBVA, a Turkish retail bank, has taken a significant step forward by launching a cryptocurrency wallet service, allowing its customers to trade in Bitcoin, Ethereum, and USD Coin. This move marks a major development in Turkey's banking sector, as the bank aims to enhance security and digital payment features.

Garanti BBVA's crypto wallet service, available on its mobile platform, allows customers to engage in the trade of these cryptocurrencies. The service was initially launched as a beta service with a limited number of users but has now become available to all customers after a successful trial period. The bank plans to expand its crypto services and improve the quality of its service delivery in the market.

In addition to its crypto services, Garanti BBVA has also introduced the Bonus Platinum Biometric Card, which employs fingerprint scanning to enable transactions, increasing security and ease at the point of purchase. The application for this card can be done via the Garanti BBVA digital platforms or traditional branch banking system.

The bank has also introduced a 'Request Payment' feature for money transfers between accounts, aligning with its strategy to improve the efficiency of digital transactions and meet the changing requirements of its customers.

The move by Garanti BBVA into crypto services shows a different trend from what other global banks are going through. For instance, the Federal Reserve has recently examined Evolve Bank and Trust in the U.S. due to weakness in its Anti-Money Laundering processes and association with distressed fintech companies. This scrutiny highlights the challenges banks face in terms of compliance when partnering with fintech and crypto companies.

However, the successful launch of crypto services by Garanti BBVA shows that there is a positive trend among banks to offer digital assets while maintaining strict compliance measures.