UniCredit explores crypto custody, tokenized products for wealth clients
In brief
- UniCredit evaluates custody, brokerage, and tokenized investment products for clients
- Bank selecting technology provider for digital-asset holding and transactions
- UniCredit backs Qivalis, a euro-stablecoin project led by European banks
- MiCA regulation driving institutional crypto adoption across Europe
- UniCredit has issued tokenized minibonds and structured crypto products
Digital Assets as Core Banking Service
UniCredit is considering new digital-asset services, including custody and brokerage, as the Italian bank explores building infrastructure to support the sector. The lender is selecting a technology provider that would enable it to hold digital assets and facilitate transactions for clients.
No final decision has been made on which services the bank will ultimately offer. Potential offerings remain under discussion, though the scope is wide: the bank is considering tokenized investment products and fixed-income securities, stablecoin applications for clients and cryptocurrency exposure.
UniCredit isn't starting from zero. The bank has already targeted professional investors and corporations, offering a structured product tied to BlackRock's iShares Bitcoin Trust ETF earlier this year. Late last year, it issued Italy's first tokenized minibond on a public blockchain.
European Regulatory Tailwind
European banks are pushing into digital assets as the bloc's Markets in Crypto-Assets regulation provides greater clarity for financial institutions. UniCredit's moves fit that pattern.
The bank is also part of a consortium backing blockchain infrastructure. UniCredit is part of a group of European banks behind Qivalis, which is developing a euro-denominated stablecoin. This positions the lender at the center of efforts to create institutional-grade digital-currency rails across Europe.
Expanding Digital Capital Markets
Separately, UniCredit acquired a minority stake in VC Trade, a German lending markets platform, to expand its digital capital markets capabilities. The move signals deeper investment in infrastructure that bridges traditional and decentralized finance.
UniCredit's deliberate approach—exploring services, selecting partners, testing products with institutional clients—mirrors how other large European lenders are treating digital assets: not as speculation, but as operational necessity.
