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BTC UniCredit Italy explores crypto-asset custody, brokerage and stablecoin strategies
UniCredit Italy, one of Europe's largest banking groups, is evaluating plans to expand its digital asset business, focusing on the launch of crypto-asset custody, brokerage services and tokenized investment products. The bank is currently assessing the technical infrastructure needed to support these initiatives, but discussions are still at an early stage and the final scope of business has not yet been determined.
Crypto custody and brokerage business is under review
According to Bloomberg, UniCredit Bank is evaluating service providers that can provide technical support so that customers can hold, buy and sell digital assets through the bank's existing platforms. Although no final decision has been made on the choice of partners and the breadth of services, UniCredit is expected to continue to analyze its strategy and may adjust or postpone specific aspects as the plan moves forward.
The bank has previously shown interest in digital assets. In July 2025, UniCredit launched a structured product linked to BlackRock's iShares Bitcoin Trust ETF for professional customers. The product allows customers to tap into Bitcoin price fluctuations in traditional investment structures, thereby earning Bitcoin-related gains without directly holding cryptocurrency.
In addition, UniCredit Bank further demonstrated its commitment to innovation and demonstrated its willingness to deploy blockchain technology in the traditional financial sector by issuing Italy's first tokenized mini bond based on public blockchain-based.
Focus on tokenized assets and stablecoins
As the digital asset roadmap develops, UniCredit Bank is considering a wider range of tokenized financial products, including investments and fixed income securities. The plan also extends to exploring application scenarios for stablecoins and increasing customers 'exposure to cryptocurrencies. These potential offers will significantly expand UniCredit Bank's digital asset portfolio and consolidate its competitive position in the European banking industry.
The bank's strategy is closely related to its participation in the "Qivalis" alliance. Qivalis is a consortium of European financial institutions aiming to launch a euro-backed stablecoin. Since its establishment, Qivalis has attracted 37 member banks from 15 countries to join, demonstrating broad support within the industry.
The proposed stablecoin will be fully backed by euros and comply with the requirements of the European Union's Cryptocurrency Asset Markets Regulation (MiCA). Progress of the project is subject to obtaining regulatory clearance, including authorization from the Dutch Central Bank, with the goal of launching in the second half of 2026.
In April this year, Qivalis selected Fireblocks as a core infrastructure provider for tokenization, wallet and digital asset management. The Fireblocks system features identity verification and sanctions screening capabilities, reflecting increasingly stringent compliance standards.
MiCA regulations shape digital strategy
As European lenders increase digital asset activities, the MiCA framework sets out comprehensive requirements for crypto asset service providers and stablecoin issuers across the EU. MiCA aims to standardize regulatory procedures and promote greater market transparency.
Several major banks in the region have made progress on regulated custody, tokenization and blockchain-based settlement processes. Banca Sella, also a member of the Qivalis Alliance, recently received approval to provide crypto custody and money transfer services in Italy.
In addition to its crypto business, UniCredit Bank is also investing in digital financial infrastructure. The bank recently acquired a minority stake in German lending market trading platform VC Trade, which supports its broader digital capital markets strategy.
Although R & D work is still in progress, UniCredit has not disclosed the technology suppliers it may choose, nor has it shared any cost estimates or project timelines. The final decision on whether to continue to advance custody, brokerage, stablecoin or tokenized securities services remains to be determined.
