The world’s largest financial companies are entering the cryptocurrency business. BlackRock’s entry into the game in 2023 encouraged many companies. Now that Trump is building the foundation of global crypto regulations with cryptocurrency laws, banking giants are excited. BlackRock has made huge profits from crypto, and companies are in the business of making money. UBS will do this too.
UBS and Cryptocurrencies
UBS Group to special customers cryptocurrency is preparing to offer trade services. This is not a surprising move in these days when global banks and asset managers are eagerly flocking to crypto. Although the global expansion of digital assets may not have significant consequences on spot prices, the potential is quite strong.
According to a Bloomberg report, the Swiss banking giant, which has an estimated $4.7 trillion in customer assets as of September 30, is negotiating with business partners to offer cryptocurrency services. In the negotiations that have been going on for several months, the scope of the work, its operation and when it will be presented are clarified. If implemented, this initiative would pave the way for UBS, the world’s largest asset management company, to move beyond pilots and indirect exposure to direct cryptocurrency services for a segment of its private banking customers.
This product, which will be offered to a limited number of customers in the first stage, is expected to not be available to individual customers for a long time.
UBS’s Crypto Trials
For the launch, issuance and exchange of money market funds previously tokenized on Ethereum of UBS We have seen that it carries out pilot applications with its partners. Focusing on tokenization, the company will provide cryptocurrency trading services for the first time.
UBS had also allowed its top-tier clients in Hong Kong to buy and sell cryptocurrency futures-based funds. The company, which approaches cryptocurrencies in a measured manner, has a presence in crypto, although it is progressing slowly, unlike its competitors such as Morgan Stanley and Standard Chartered.
In 2026, many world-famous companies will be to cryptocurrencies We can see that it is included. As the legitimacy of crypto increases, especially with the New York Stock Exchange activating blockchain-based RWA markets, financial giants will want to show more presence in this field.
