UBS Group AG is exploring ways to offer bitcoin & crypto access to individual clients, CEO Sergio Ermotti said during the bank’s earnings call on Wednesday.
What UBS said on the call
Ermotti said UBS is building the underlying infrastructure for digital-asset services while evaluating specific products.
Ermotti said on the call:
“We are building out the core infrastructure and exploring targeted offerings from crypto access for individual clients to tokenized deposit solutions for corporates.”
Tokenization and a ‘fast follower’ approach
UBS said it plans to take a “fast follower” strategy on asset tokenization, targeting growth over the next three to five years alongside its existing banking services.
Potential rollout and competition
The Zurich-based bank, which manages more than $7 trillion in client assets, is weighing a limited rollout of bitcoin & crypto services for select wealthy clients as it assesses potential partners for a digital-asset platform.
Ermotti’s comments come as competition among large banks has increased, with firms such as JPMorgan, Morgan Stanley, and Julius Baer already offering digital-asset-related services.
