Summary
- UBS said it is reviewing ways to allow clients access to crypto investing.
- UBS said it is reviewing tailored products including infrastructure for digital-asset services, crypto accessibility for affluent clients, and tokenized deposit solutions for corporate clients.
- CEO Ermotti said there is no plan to be a first mover in blockchain technology, and that UBS will expand over the next 3–5 years alongside its existing banking operations.
Swiss investment bank (IB) UBS is reportedly reviewing ways to allow clients access to crypto investing.
According to overseas media outlets including Bitcoin Magazine on the 4th (local time), UBS Group Chief Executive Officer (CEO) Sergio Ermotti said on an earnings call held that day that the bank is "building the core infrastructure required for digital-asset services." Ermotti said, "We are reviewing a range of tailored products, from crypto accessibility for affluent clients to tokenized deposit solutions for corporate clients."
He stressed, however, that UBS will not accelerate its rollout of crypto services. Ermotti said, "We have no plan to be a first mover in blockchain technology," adding that UBS will expand the business over the next 3–5 years in parallel with its existing banking operations.
Meanwhile, UBS is reportedly seeking partners to launch crypto products aimed at high-net-worth individuals.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
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