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Italian banking giant may provide cryptocurrency trading and custody services

2026-09-12 03:19:21
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UniCredit seeks crypto infrastructure partners

As Italy's second-largest bank, UniCredit is committed to deepening its strategic layout in the digital asset space. It is reported that the bank is considering early plans to build custody and brokerage business capabilities, and is in the process of screening technology providers to gain the ability to hold digital assets and promote their buying and selling transactions.

According to people familiar with the matter, UniCredit's areas of interest include cryptocurrency custody and brokerage services, tokenized investment products, and fixed-income securities based on stablecoins. The move will provide a compliant environment for customers within the existing wealth management framework to have access to Bitcoin (BTC), Ethereum (ETH) and other digital assets.

Currently, the bank has not disclosed the list of technology providers being considered, the potential investment amount of the project, and the timetable for the final selection of suppliers. Decisions on whether UniCredit will eventually provide specific businesses such as crypto brokerage, custody, stablecoin services or tokenized securities through the system are still under discussion.

Broader digital asset advancement has understated

This exploration of custody and brokerage businesses is not the first step for UniCredit to enter the digital asset space. Previously, the bank had provided professional clients with a product linked to BlackRock Bitcoin ETF and issued tokenized mini bonds on public blockchain.

In addition, UniCredit also co-created Qivalis with other European banks to develop euro-denominated stablecoins. This week, the bank announced it had acquired a minority stake in German lending market platform VCTrade to further expand its capabilities in digital capital markets.

This series of measures reflects broader trends in European banking. For example, Standard Chartered launched spot bitcoin and Ethereum trading services for institutional customers in the United Arab Emirates in early September this year, after the bank had previously launched digital asset custody services in the region in September 2024.

If UniCredit's plan comes true, it will be one of the most iconic moves by a major continental European bank into retail and wealth-oriented crypto services.

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