Spanish Banking Giant Cecabank Takes Crypto Custody Push to Luxembourg

Cecabank operates as a B2B infrastructure provider, enabling client banks and financial institutions to hold crypto assets, execute orders and perform transfers without having to build proprietary technology stacks.

The bank’s strategy relies on two complementary infrastructures. The first is a pan-European, Luxembourg-based distributed ledger technology (DLT) network designed for regulated institutions to register and trade tokenized assets. Cecabank is a founding member and the first Spanish institution to join.

The second is a banking consortium of 37 financial institutions working on a 1:1 euro-backed stablecoin for onchain payments and settlement. The project is awaiting electronic money institution authorization from the Dutch central bank, with a commercial launch planned for the second half of 2026.

In addition, Cecabank participated in Spain’s first interbank trial of tokenized deposits in July 2026, testing mechanisms to automate asset settlement while retaining claims directly on the bank’s balance sheet.

“Eighteen months after our branch opened, we can say with confidence that it was the right decision,” said Brenda Bol, Cecabank’s country head in Luxembourg, per the Delano report.

With its presence established on the board of the Luxembourg Bankers’ Association (ABBL), Cecabank’s next operational priority is finalizing its MiCA passporting process to deliver live digital asset services to local institutions.