UBS considers opening crypto investing to select banking clients

UBS Group AG, the world's largest wealth manager, is reportedly considering offering cryptocurrency investing to select private banking clients as it finalizes partners for a potential digital asset rollout. This potential offering, which may start in Switzerland before expanding to Asia-Pacific and the US, signals a shift from the bank's historically cautious approach to crypto, driven by increasing interest from wealthy clients and competitive pressure from rivals like JPMorgan and Morgan Stanley. This move expands beyond UBS's existing blockchain projects, such as the UBS Digital Cash pilot and UBS Tokenize, which focuses on tokenized financial products. CEO Sergio Ermotti has previously highlighted blockchain's importance for future banking efficiency, despite the bank previously viewing crypto as a limited segment amid regulatory uncertainty.

(Source：Crypto Briefing)