UniCredit Eyes Tokenized Products and Crypto Services for Clients

Italian banking giant UniCredit is exploring ways to offer digital-asset services to its clients. According to Bloomberg, the bank is selecting a technology provider to enable it to hold and facilitate transactions with digital assets.

The potential services being considered include tokenized investment products and fixed-income securities, as well as stablecoin applications for clients and cryptocurrency exposure. UniCredit's plans reflect a broader push by European banks into digital assets, which has been facilitated by the EU's Markets in Crypto-Assets regulation providing greater clarity for financial institutions.

UniCredit has already taken steps to enter the digital-asset market, having offered a structured product tied to BlackRock's iShares Bitcoin Trust ETF earlier this year and issuing Italy's first tokenized minibond on a public blockchain late last year. The bank is also part of Qivalis, a European consortium developing a euro-denominated stablecoin.