Swiss investment bank UBS Plans To Offer “Crypto Investments”

0

Last Updated on 11 May 2021 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
View all posts

With cryptocurrencies entering the mainstream, more and more clients are asking for investment into Bitcoin, Ethereum and others like Dogecoin. And thus, institutions like Goldman Sachs, JP Morgan and Bank of America have followed suit, offering their clients access to crypto investments, whether it is direct access to a fund following Bitcoin or to companies related to crypto investments.

Advertentie.

Hold off the boat

So far, European banks have been able to hold off the boat, claiming that their customers are more traditional and therefore prefer stocks. In Switzerland that’s about to change though as Swiss banking behemoth UBS appears to be in the early stages of planning to offer its wealthy customers access to digital currency investments, as it is faced with overwhelming client demand.

We are monitoring the developments in the field of digital assets closely. Importantly, we are most interested in the technology which underpins digital assets, namely the distributed ledger technology.

UBS said in a statement.

With that, UBS follows Goldman Sachs and Morgan Stanley, who are pursuing similar avenues. Meanwhile Bank of New York Mellon is said to be developing an own platform for trading digital assets. Citigroup has so far been able to stave off crypto, but is said to be looking.

UBS Chief Executive Officer Ralph Hamers of course is in desperate need of some good news, as his bank was hit with an extraordinary loss this year when it turned out that the Archegos investment fund had left them considerably exposed.

MMollaretti / Depositphotos.com