Swiss financial giant UBS Group is in the early stages of planning to offer digital currency investments to affluent clients, according to a Bloomberg report.
- The bank is exploring several alternatives for offering the asset class, the news outlet said, citing people familiar with the plan.
- Investment offerings would be a “small portion” of the clients’ total wealth due to the volatility, and options include investing through third-party investment vehicles, Bloomberg reported.
- UBS didn't immediately respond to a request for comment from CoinDesk.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.