Switzerland’s leading banking firm UBS Group AG has announced plans to build digital asset infrastructure aimed at providing Bitcoin and other cryptocurrency services to its individual clients. CEO Sergio Ermotti revealed during a recent financial report that the company is developing foundational infrastructure for digital asset services and exploring various targeted product opportunities, including crypto access for wealthy clients and tokenized deposit solutions for corporate customers. UBS intends to expand into the tokenized asset space within the next three to five years, adopting a “fast follower” strategy rather than being an early blockchain pioneer. This approach allows the company to cautiously enter the cryptocurrency market. UBS’s move comes as major banks worldwide, such as Germany’s DZ Bank, Sparkassen Finance Group, and ING Germany, begin offering crypto trading and related financial products to their customers. The initiative highlights the growing importance of integrating traditional banking with digital assets globally. While banks have remained cautious about investing and trading cryptocurrencies, increasing market demand and technological advancements are compelling them to become more active in this sector. It remains to be seen how UBS will deliver secure and effective crypto services to its clients and whether this effort will set a precedent for other banks.
Source: bitcoinmagazine
