UniCredit exploring crypto custody and brokerage services, seeking technology provider for asset management.
RWA & Tokenization ·
UniCredit is exploring entry into digital asset services, including crypto custody and brokerage operations, and is currently evaluating technology providers to manage holdings and process client orders. The Italian bank has not yet committed to a provider, spending level, or timeline. Potential service areas range from safekeeping and trading to tokenized investment vehicles, fixed-income instruments, and stablecoin applications for customers. Any offering would operate under the EU's Markets in Crypto-Assets regulation, effective from July 1, which mandates licensing and enables qualified firms to serve across the 30-nation European Economic Area.
UniCredit has already moved crypto products to market, including a five-year dollar-indexed certificate backed by BlackRock's Bitcoin Trust launched in July 2025 with capital protection and an 85% return cap, and Italy's first public-blockchain tokenized minibond—a €5 million debt instrument on Polygon issued alongside state lender Cassa Depositi e Prestiti in December 2025. The bank also participates in Qivalis, a 37-member consortium planning a euro stablecoin on Ethereum for mid-2026, contingent on Dutch central bank approval.
What remains unconfirmed is which external vendors UniCredit is evaluating, investment size, and launch timing. Meanwhile, other European lenders have moved faster: BBVA now offers Bitcoin trading and custody to Swiss private clients, and Bank Leumi is partnering with Galaxy to launch Bitcoin, Ethereum, and Solana services in 2027.