$70 trillion in assets are flowing... UBS Group is considering launching a "high-net-worth individual exclusive" cryptocurrency service

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UBS Group Considers Launching Cryptocurrency Services for High-Net-Worth Clients… While Promoting Asset Tokenization

As the competition in financial digitalization intensifies, Switzerland’s largest bank, UBS Group, is seriously considering launching cryptocurrency services and tokenized deposits. This financial giant, managing over $7 trillion (approximately 1.2620 quadrillion Korean won) in client assets, plans to align with market trends and strengthen asset tokenization and digital infrastructure development.

UBS Group CEO Sergio Ermotti stated during a recent earnings call: “We are exploring not only providing cryptocurrency access for individual clients but also offering customized digital deposit products for corporate clients.” He explained that UBS is focusing on building the “digital core capabilities” needed for the next-generation financial system and is currently reviewing specialized products such as tokenized deposits.

Recently, UBS has also begun to seek dominance in the core keyword of the financial industry: “asset tokenization.” Its strategy is to make asset tokenization a growth driver over the next 3 to 5 years, developing it alongside existing financial services. UBS has indicated it will not lead directly but will adopt a “fast follower” strategy to quickly adapt to technological changes.

In particular, UBS is internally considering “limited” provision of cryptocurrency services to select high-net-worth clients. The initial target is likely domestic Swiss clients, and UBS is also working on selecting external partners to build a digital asset platform.

This move aligns with the increasing trend of global banks competing in digital assets. Major investment banks such as JPMorgan Chase, Morgan Stanley, and BofA Securities have already launched or are operating digital asset services. UBS aims to seize market opportunities by leveraging its technological strength and reputation among high-net-worth clients.

Against the backdrop of growing pressure for digital transformation in the financial industry and signals of expanding asset tokenization, UBS’s strategic shift is expected to have significant symbolic and market impacts in the cryptocurrency space. Depending on how UBS enters the market, the landscape of cryptocurrency access in European finance could also change.

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Global asset management giants like UBS are signaling plans to introduce cryptocurrency, digital deposits, and asset tokenization services. This is not just a trend but a sign that major financial centers are shifting toward digital assets.

However, without understanding these complex trends and structures, investors risk being led astray by external news.

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Direct Link: AI Notice

This article summary is generated based on the TokenPost.ai language model. The main content of the text may be omitted or may differ from actual facts.

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