UniCredit is exploring new digital-asset services, including custody and brokerage, as the Italian lender evaluates building infrastructure to support the sector, Bloomberg reported Friday, citing people familiar with the matter.
Technology Provider Selection Underway
The bank is currently selecting a technology provider that would enable it to hold digital assets and facilitate transactions, according to the sources. Potential services remain under discussion, and no final decision has been made.
Scope of Digital-Asset Offerings
UniCredit is considering a range of services, including tokenized investment products and fixed-income securities, stablecoin applications for clients, and cryptocurrency exposure. The plans reflect a broader push by European banks into digital assets as the European Union’s Markets in Crypto-Assets (MiCA) regulation provides greater clarity for financial institutions.
Existing Digital-Asset Initiatives
UniCredit has so far targeted professional investors and corporations. Earlier this year, the bank offered a structured product tied to BlackRock’s iShares Bitcoin Trust ETF. Late last year, it issued Italy’s first tokenized minibond on a public blockchain. Tokenization refers to issuing and transferring traditional assets using blockchain networks.
Strategic Partnerships and Investments
The bank also joined other European lenders in creating Qivalis to develop a euro-denominated stablecoin. This week, UniCredit announced it acquired a minority stake in VC Trade, a German lending markets platform, to expand its digital capital markets capabilities.
