UniCredit Eyes Crypto Custody as Circle Launches Stablecoin Blockchain

UniCredit, one of Europe's largest banks, is exploring crypto custody and brokerage services. The bank has already launched various crypto products, including a Bitcoin-linked certificate tied to BlackRock's iShares Bitcoin Trust in July 2025, which offered full capital protection and an 85% return cap.

UniCredit also structured Italy's first tokenized minibond on a public blockchain in December 2025, a 5 million euro bond for E4 Computer Engineering recorded on Polygon. The bank is part of the Qivalis consortium, which plans to launch a MiCA-compliant euro stablecoin on Ethereum by late 2026.

Circle's Arc Layer-1 blockchain is set to go live on September 16, with USDC as its native gas token and sub-second transaction finality. The BRICS Summit in New Delhi discussed linking central bank digital currencies, but the initiative remains in the feasibility study phase.