UniCredit Seeks Crypto Tech Partner Amid Regulatory Hurdles
Italian bank UniCredit is exploring potential technology partners for its cryptocurrency services, according to Bloomberg. The report did not name any specific provider or reveal a target market.
The bank's existing securities business already uses partners in some areas, and it may consider a similar model for crypto services. This could involve separating specialist infrastructure from key operational and digital roles within the bank.
UniCredit would need to define the responsibilities of any partner, including custody, order execution, wallet technology, or other functions. The European Union's Markets in Crypto-Assets (MiCA) regulation requires clear client agreements and oversight of providers, highlighting the importance of regulatory readiness for any crypto venture.