9 Crypto Startups Make BBVA Competition Final

Nine crypto startups have made it through to the finals of this year's BBVA Open Talent competition.

The Spanish multinational banking group's global fintech startup competition is split into three regional finals.

The European final will be held in Barcelona – where Everledger, Safello and Vaultoro will compete. The South American final will include Bitnexo and Bitso among its other finalists. Bitwage, Coinalytics, SnapCard and Voatz will compete in New York, alongside startups from the US and other parts of the world.

Each of the six winners will receive a €30,000 prize and the opportunity to join a two-week networking program.

Gustavo Vinacua, director of Innovation Centers and Open Innovation at BBVA, said:

"Interacting with innovation ecosystems has always been a priority for BBVA, but on this occasion we want BBVA Open Talent to focus on companies and products that can really be applied to the financial services business or those that are related to pioneering products in the development of the Group's new digital services."

Frank Schuil, CEO of bitcoin exchange Safello – which was also selected to join Barclays' accelerator program earlier this year – said in a statementhttp://safello.pr.co/107705-bbva-selects-safello-as-finalist-for-open-talent-2015 that he was delighted to see mainstream banks embracing bitcoin.

This is not the first time BBVA has made moves in the cryptocurrency space. BBVA Ventures, the bank's private equity subsidiary, participated in Coinbase's recent $75m funding round.

Winner image via Shutterstock.