UBS Plans Bitcoin Trading for Select Wealth Clients

UBS Group AG is reportedly planning to introduce Bitcoin trading services for a select group of its private banking clients in Switzerland, according to sources familiar with the matter. The Swiss banking giant is currently in discussions to select external partners for execution, custody, and compliance, favoring a partner-led model to manage balance sheet risk and operational complexity, which aligns with strategies used by other institutions navigating Basel III requirements. Initially, the service would allow eligible clients to buy and sell Bitcoin (BTC) and Ethereum (ETH). While the rollout is focused on Switzerland, UBS is considering future expansion to regions like Asia-Pacific and the US, contingent on regulatory clarity and client demand. This move follows UBS's previous step in November 2023, where it allowed Hong Kong clients to trade crypto-linked ETFs, though this new plan suggests a move toward direct spot trading for a select clientele.

(Source：Bitcoin Magazine)