Yushan Bank expands its digital asset footprint and is seeking third-party technology providers
According to a report by Bloomberg, UniCredit, Italy’s large bank Yushan Bank, is evaluating expanding its digital asset business. It plans to build the technical infrastructure required for cryptocurrency custody and brokerage services, and has already begun looking for suitable third-party technology providers.
According to people familiar with the matter, Yushan Bank hopes to build a digital asset infrastructure through an external technology vendor, enabling the bank to custody crypto assets and help customers buy and sell related assets.
Related discussions are still at an early stage. Yushan Bank has not yet decided on its final cooperation partner, nor has it officially finalized which products it will roll out to customers. A spokesperson for Yushan Bank declined to comment on the related news.
If the plan is formally implemented, the scope of services offered by UBS Bank of Switzerland would expand beyond existing financial products related to crypto assets to include digital asset custody, trading, and investment infrastructure.
Custody and brokerage as the core—stablecoins and tokenized products included in the assessment
The services currently being assessed by UBS Bank of Switzerland cover several directions, including digital asset custody, brokerage services, tokenized investment products, fixed-income securities, and related products that allow clients to use stablecoins or gain exposure to crypto assets.
Among these, the custody infrastructure would be responsible for the secure safekeeping and management of digital assets; brokerage services would allow the bank to help clients buy and sell crypto assets. If further integrated into existing bank services, clients in the future may access digital assets through UBS Bank of Switzerland’s existing financial service channels.
Tokenized products are also an industry UBS Bank of Switzerland is studying. Relevant applications may include tokenized investment products and fixed-income securities, and it will explore ways to use stablecoins in trading and settlement workflows.
At present, there is no information indicating that UBS Bank of Switzerland has decided to directly open spot crypto-coin trading to general retail customers. The actual target clients, supported assets, go-live timing, and the partnering technology providers still need to be confirmed.
Exposure via Bitcoin ETFs—digital asset deployment expands step by step
UBS Bank of Switzerland (UBS) had already started offering financial products related to crypto assets to certain professional clients. In 2025, the bank launched a structured product linked to iShares Bitcoin Trust (IBIT) spot Bitcoin ($BTC) by BlackRock, enabling eligible professional clients to gain exposure to Bitcoin prices.
According to regulatory materials released by UBS Bank of Switzerland as of the end of 2025, the group’s crypto-asset business activities at the time were mainly focused on issuing structured financial products featuring a 100% principal protection mechanism, and linking them to crypto-asset ETPs or related indexes.
Eligible clients can also access certain crypto-asset-related securities through UniCredit Brokerage, including Bitcoin and ether-related futures listed on Eurex and CME, as well as crypto-asset ETPs, ETNs, and ETCs available in the market. If this initiative continues to move forward, UBS Bank of Switzerland’s digital asset business will further cover areas such as asset safekeeping, trading, and tokenized financial products.
European banks accelerate their expansion—MiCA provides a unified regulatory framework
UBS Bank of Switzerland’s planning also reflects large European banks’ continued increase in digital-asset services. Spain’s BBVA has already offered Bitcoin trading and custody services to clients; Deutsche Bank has collaborated with companies such as Bitpanda’s technology division to develop digital asset custody infrastructure.
Further reading
Recommended by institutions! A Spanish bank advises wealthy clients: invest 3%–7% of your funds into Bitcoin
Germany’s two biggest banks take action! In 2026, they will roll out digital asset custody and trading to capture the crypto market
After the EU (Crypto Assets Market Regulation, MiCA) gradually takes effect, the regulatory framework that banks must follow to provide digital asset services becomes clearer. This has prompted more traditional financial institutions to evaluate crypto, stablecoin, and tokenized asset business lines.
UBS Bank of Switzerland is also involved in a stablecoin program within the European banking industry. The bank, together with several European banks, is participating in Qivalis to build euro-denominated stablecoin-related infrastructure. From the previously assessed Bitcoin ETF structured products to this evaluation of building digital asset custody and brokerage infrastructure, UBS Bank of Switzerland is gradually adding digital-asset-related services. At present, the plan is still at the assessment stage; third-party technology providers, product content, and the official launch timeline have not yet been announced.
Related news: A historic joint effort—37 European banks team up to roll out a euro stablecoin and compete for dominance in on-chain finance
This article has been compiled by a crypto Agent from information gathered from various parties, with peer review and editing by (Crypto City). It is still in the training stage, and there may be logical biases or information errors. The content is for reference only and should not be considered investment advice.
“UBS Bank of Italy plans to move into crypto custody! Stablecoins and tokenized products are also being considered.” This article was first published on “Crypto City”.