UniCredit Eyes Crypto Infrastructure Partner for Trading and Custody Services

UniCredit Bank is actively seeking a technology provider to build digital asset infrastructure spanning crypto trading, custody, and tokenized investment products, according to a Bloomberg report on Friday. Italy's largest bank is in early-stage discussions covering crypto custody and brokerage capabilities, tokenized investment offerings, and stablecoin-based fixed-income securities, per people familiar with the matter. UniCredit has not yet commented on which technology partner might fill the infrastructure gap.

The move comes as major global banks accelerate their digital asset strategies. On Wednesday, U.S. Bank, America's fifth-largest commercial bank, completed a live cross-border payment using its proprietary USBDC stablecoin. On September 3, Standard Chartered launched spot Bitcoin and Ether trading for institutional clients in the United Arab Emirates, building on custody services it introduced in the region in September 2024. Last month, Israel's largest bank, Leumi, partnered with Galaxy Digital to offer BTC, ETH, and SOL trading through its investment platform, with launch expected in early 2027.

The institutional push into crypto infrastructure signals growing mainstream acceptance of digital assets in traditional finance. Tokenization of real-world assets, including fixed-income securities backed by stablecoins, represents one of the fastest-growing segments in financial services. UniCredit's entry would mark another significant milestone for European banks embracing blockchain-based products, following similar initiatives from Citi and DBS, which recently completed the first weekend tokenized cross-border deposit on Swift.