Banking giant UniCredit weighs tokenized products and crypto services for clients: Report

UniCredit is considering new digital-asset services, including custody and brokerage, as the Italian bank explores building infrastructure to support the sector, Bloomberg reported Friday, citing people familiar with the matter.

The lender is selecting a technology provider that would enable it to hold digital assets and facilitate transactions, the people said. Potential services remain under discussion and no final decision has been made. The bank is considering tokenized investment products and fixed-income securities, stablecoin applications for clients and cryptocurrency exposure.

UniCredit’s plans reflect a broader push by European banks into digital assets as the bloc’s Markets in Crypto-Assets regulation provides greater clarity for financial institutions. The bank has so far targeted professional investors and corporations, offering a structured product tied to BlackRock’s iShares Bitcoin Trust ETF earlier this year and issuing Italy’s first tokenized minibond on a public blockchain late last year. Tokenization refers to issuing and transferring traditional assets using blockchain networks.

UniCredit also joined other European banks in creating Qivalis to develop a euro-denominated stablecoin. The bank said this week that it acquired a minority stake in VC Trade, a German lending markets platform, to expand its digital capital markets capabilities.