UniCredit Explores Crypto Custody and Brokerage Services
The bank is evaluating technology providers to enter the digital assets market.
1UniCredit's Crypto Expansion Plans
UniCredit is considering entering the digital assets market by offering crypto custody and brokerage services. The bank is currently in the early stages of selecting a technology provider to manage these services. The move would include custody, brokerage, tokenized investment products, and stablecoin applications. UniCredit has not yet disclosed potential providers, costs, or timelines. The services would comply with the EU's MiCA regulation, which requires licensing for crypto-asset providers.
2Regulatory Compliance Under MiCA
Any crypto services UniCredit offers will fall under the EU's Markets in Crypto-Assets (MiCA) regulation, which came into full effect on July 1. MiCA mandates that crypto-asset service providers must hold a license and allows authorized firms to operate across the 30-country European Economic Area. This regulatory framework ensures consumer protection and market stability. UniCredit's plans align with these requirements, positioning the bank to leverage the passporting feature for cross-border services.
3Deutsche Bank's Precedent
UniCredit's approach mirrors that of other large banks like Deutsche Bank, which partnered with Swiss firm Taurus for digital asset custody and tokenization. Taurus underwent a detailed selection and due diligence process before being chosen. This precedent highlights the importance of selecting reliable technology partners in the crypto space. UniCredit's strategy suggests a similar emphasis on security and compliance in its digital assets venture.
4Existing Crypto Products
UniCredit has already introduced crypto-related products to its clients. In July 2025, the bank launched a five-year, dollar-denominated certificate linked to BlackRock's iShares Bitcoin Trust (IBIT) for professional clients. The product offers full capital protection at maturity, a cap of 85% on returns, and a $25,000 minimum investment. It was the first of its kind in Italy, showcasing UniCredit's early interest in digital assets.
5Tokenized Minibond Innovation
In December 2025, UniCredit and Cassa Depositi e Prestiti structured Italy's first tokenized minibond on a public blockchain. The €5 million issue for E4 Computer Engineering was recorded on Polygon. This innovation demonstrates UniCredit's commitment to blockchain technology beyond traditional crypto assets. The minibond represents a significant step in integrating blockchain into mainstream financial products.
6Qivalis Consortium and Stablecoin Plans
UniCredit is part of Qivalis, an Amsterdam-based consortium of 37 European banks across 15 countries. The group plans to launch a MiCA-compliant euro stablecoin on Ethereum in the second half of 2026. The stablecoin will be backed one-for-one by euro deposits, pending approval from the Dutch central bank. This initiative reflects broader industry trends toward regulated stablecoins and interoperability among European banks.
7Competitor Moves in Crypto
Other major banks like BBVA and Bank Leumi have already entered the crypto space. BBVA offers Bitcoin trading and custody to private banking clients in Switzerland. Bank Leumi partnered with Galaxy to launch trading and custody services for Bitcoin, Ethereum, and Solana in 2027. These developments indicate growing institutional interest in digital assets, with UniCredit's plans aligning with this trend.
8Broader Digital Markets Strategy
Beyond crypto, UniCredit is expanding its presence in digital markets. On September 8, the bank acquired a minority stake in VC Trade, a Frankfurt platform that digitizes bond and loan deals. The platform has handled over €90 billion across 600 transactions. This investment underscores UniCredit's broader strategy to modernize its financial services and embrace digital transformation across multiple asset classes.
Original article: CryptoPotato — UniCredit Explores Crypto Custody and Brokerage Services