UBS CEO Details Crypto Plans Following Report of Bitcoin, Ethereum Trading for Wealthy Clients
UBS Group AG, a Swiss bank managing over $7 trillion in assets, is developing infrastructure for tokenized services and crypto access for clients, according to its CEO. The bank is exploring offerings like crypto access for individuals and tokenized deposit solutions for corporations, responding to growing interest in digital assets and evolving investor expectations. Recent reports indicate UBS will soon allow select Swiss clients to invest in Bitcoin and Ethereum. UBS is also utilizing artificial intelligence to improve operations and productivity. The bank’s annual profit rose by 53% to $7.9 billion, partly due to its acquisition of Credit Suisse in 2023. Shares fell 6% following its Q4 earnings call. UBS did not mention stablecoins in its update but was previously involved with Stripe’s stablecoin blockchain, Tempo.
