UBS Considers Offering Crypto Trading to Private Banking Clients
This article first appeared on GuruFocus.
UBS Group AG (NYSE:UBS) is weighing a move that could reshape its long-standing approach to digital assets, as the world’s largest wealth manager considers offering cryptocurrency trading to select private banking clients. The Swiss bank, which oversaw about $4.7 trillion in wealth assets as of Sept. 30, has spent several months evaluating potential partners for a crypto offering, according to people familiar with the discussions. A final decision has not yet been made, and internal deliberations remain ongoing.
Under the current framework being explored, UBS could initially allow a limited group of private banking clients in Switzerland to buy and sell Bitcoin and Ether, with a…
