UniCredit Eyes Crypto Custody and Brokerage Expansion

Italian bank UniCredit is exploring an expansion into digital assets by offering crypto custody and brokerage services. The discussions are in their early stages, and no final decision has been made.

The bank is selecting a technology provider to hold the assets and handle client transactions under the EU's Markets in Crypto-Assets regulation, or MiCA. Areas under consideration include tokenized investment products and stablecoin applications for clients.

This move follows UniCredit's earlier forays into crypto, including a five-year certificate linked to BlackRock's iShares Bitcoin Trust (IBIT) for professional clients in July 2025, with full capital protection at maturity. The bank has also structured Italy's first tokenized minibond on a public blockchain and is part of an Amsterdam consortium planning to launch a MiCA-compliant euro stablecoin on Ethereum.

Other large lenders have already started selling crypto to clients, including BBVA in Switzerland and Bank Leumi in Israel. UniCredit has also expanded into digital markets beyond crypto by buying a minority stake in VC Trade, a Frankfurt platform that digitizes bond and loan deals.