UBS considers crypto offerings and tokenized deposit products for clients

UBS Group AG is actively exploring ways to provide individual clients with access to cryptocurrencies and is developing foundational digital capabilities. CEO Sergio Ermotti mentioned on an earnings call that the bank is also looking into targeted offerings for corporate clients, such as tokenized deposits. Regarding asset tokenization, a major trend, UBS intends to adopt a "fast follower" strategy, aiming for growth over the next three to five years to integrate these services. The Zurich-based bank, which manages over $7 trillion in assets, is considering a limited rollout of crypto services for select wealthy clients while assessing potential partners for a digital asset platform, potentially starting in Switzerland, amid competition from peers like JPMorgan and Morgan Stanley.

(Source：Crypto Briefing)