Sergio Ermotti, CEO of UBS Group AG, said that the company is looking into ways it can offer Bitcoin and cryptocurrency access to individuals clients. said The bank held its earnings conference on Wednesday.
Ermotti, the Zurich-based bank’s CEO said that the Zurich-based institution is building core infrastructure for digital asset services and evaluating target products. These include crypto access for clients who are wealthy to tokenized deposit solutions Customers who are corporate can benefit from a special offer.
“We are building out the core infrastructure and exploring targeted offerings from crypto access for individual clients to tokenized deposit solutions for corporates,” Ermotti said.
UBS’s chief executive stressed that the bank did not intend to be first in adopting blockchain technology.
UBS instead pursues what Ermotti called a “fast follower” It is a strategy to expand its business in traditional banking and tokenized assets over the coming three to five year period.
Last month, it was revealed that UBS has a presence in China. process Selecting partners for an offering of crypto tokens aimed at its clients with high net worth marks a change for a financial institution that had previously taken a conservative stance towards virtual tokens.
UBS, like many other global banks, has focused on the blockchain for payments and tokenized funds.
Due to Basel III’s stricter capital requirements, banks have been slow in embracing crypto-trading.
UBS and other European banks are exploring Bitcoin
DZ Bank recently announced that it has begun to accept bitcoins and other crypto-offers. DZ Bank announced recently secured MiCAR has approved the rollout of its “meinKrypto” The platform will be available across all cooperative banks and allow customers to buy, sell, and store digital assets such as Bitcoin directly in their banking applications. Customers can also become part of a consortium that is developing a euro stablecoin.
Also, the Sparkassen-Finanzgruppe plans DekaBank is providing technical support to help launch Bitcoin and Crypto trading by private customers in the summer of 2026. The bank has reversed its earlier attitude towards digital assets and cryptocurrency.
Also this week, ING Deutschland – one of Germany’s biggest retail banks – announced they will begin offering retail clients access to cryptocurrency-linked exchange-traded notes (ETNs) and products, allowing customers to gain exposure Bitcoin and other Crypto directly via their existing Securities Account.
According to the information on ING’s website, these products are exchange traded instruments with physical backing issued by established asset management companies such as 21Shares Bitwise and VanEck.
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Source: bitcoinmagazine.com
