In brief
- UBS Group’s CEO confirmed the company is working on a path to implement tokenized deposits and crypto access for users.
- The firm was recently named an early design partner on Stripe’s stablecoin-focused blockchain, Tempo.
- UBS netted nearly $8 billion in profits last year, but shares have fallen around 6% on Wednesday.
Publicly traded Swiss bank UBS Group AG (UBS) is creating a path to tokenized services and crypto access for its clients, the firm’s CEO confirmed on its Q4 earnings call on Wednesday.
The firm, which manages invested assets of more than $7 trillion, has seen its shares drop around 6% on Wednesday, recently changing hands at $44.79.
“As digital assets become a more relevant part of the financial system,…
