UniCredit Prepares to Expand Digital Asset Business with Crypto Custody and Brokerage
UniCredit, an Italian bank, is planning to expand its digital asset business by offering crypto custody, brokerage, tokenized investments, and stablecoin services.
The bank is currently selecting a technology provider for infrastructure that could support digital asset custody and brokerage services. This move would take UniCredit beyond individual crypto-linked products it has offered professional investors in the past.
UniCredit is considering tokenized investment products, fixed-income securities, stablecoins, and ways for clients to gain exposure to cryptocurrencies through its new infrastructure. The bank has already tested crypto exposure through traditional investment products, such as a structured product linked to IBIT that offered full capital protection at maturity.
The expansion of UniCredit's digital asset business is part of the bank's efforts to build out its digital capital markets operations outside cryptocurrency products. In addition to developing its own infrastructure, UniCredit has invested in VC Trade, a German platform focused on lending markets.