Italy’s Second Biggest Bank UniCredit Is Weighting up Crypto Custody: Report

Bitcoin Magazine

Italy’s Second Biggest Bank UniCredit Is Weighting up Crypto Custody: Report

Italy’s second largest bank is considering expanding into digital asset offerings, including custody, according to reports.

According to a Friday Bloomberg report citing people familiar with the matter, Milan-based UniCredit is selecting a technology provider that would allow it to build the infrastructure needed to hold digital assets and facilitate their buying and selling.

Bloomberg’s reporting added that tokenized investment products and fixed-income securities, the use of stablecoins and exposure to cryptocurrencies were all on the cards.

The news comes as other banks in Europe expand crypto offerings. Spain moved first on retail, with BBVA rolling out bitcoin trading and custody to all customers via its app, using its own custody infrastructure rather than a third party; Santander’s Openbank followed with its own trading service.

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