UniCredit Seeks Tech Partner for Crypto Trading and Custody Infrastructure
UniCredit Bank is exploring ways to build infrastructure for digital asset trading and custody. According to Bloomberg, the Italian bank's discussions are still in the early stages, with areas of interest including crypto custody and brokerage capabilities, tokenized investment products, and stablecoin-based fixed-income securities.
The people familiar with the matter told Bloomberg that UniCredit is seeking a technology provider to fill this infrastructure gap. Some of the biggest banks are experimenting with digital asset and stablecoin infrastructure, including America's fifth-largest commercial bank, U.S. Bank, which completed a live cross-border payment using its proprietary USBDC stablecoin.
Standard Chartered launched spot Bitcoin (BTC) and Ether (ETH) trading for institutional clients in the United Arab Emirates last month. The bank previously launched digital asset custody services in the region in September 2024. Leumi, Israel's largest bank, partnered with Galaxy Digital to offer customers Bitcoin, Ether, and Solana (SOL) trading through the bank's investment platform.