Swiss international bank UBS is considering ways of offering digital asset investing to its wealthy customers. Taking into account the volatile nature of cryptocurrencies, the offering is planned for a very small group of customers at first. Details aren't known yet but variants include investing via third party vehicles.
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The news was reported by BNN Bloomberg, which states getting the information from "people familiar with the plan". According to the report, it was mentioned an outflow could take place if UBS didn't meet customers' interests in crypto investing. UBS has been interested in the blockchain and cryptocurrency industry before. In April 2021 the bank participated in the fundraising of the blockchain company Consensys.
There were other banking establishments that presented their crypto investment products earlier. Recently New York-based global financial services provider Citigroup revealed its plans regarding crypto purchasing, custody, and financial operations.
Among the banks presenting crypto-related investment products are JPMorgan, BNY Mellon, Morgan Stanley, and BlackRock.