UniCredit is considering a digital assets expansion that would add custody and brokerage of cryptocurrencies, and has begun selecting a technology provider to hold the assets and manage customer transactions, Bloomberg reported, citing people familiar with the matter.
According to the reportdiscussions are early and no final decision has been made. Areas under investigation include custody and brokerage, tokenized investment products and fixed income, and stablecoin applications for clients. UniCredit has not revealed which providers it is evaluating, how much it might spend or when it would choose one.
All crypto services would fall under European regulations on crypto-asset markets, the grace period for which ended on July 1. MiCA requires crypto-asset service providers to be licensed and allows authorized companies to maintain and trade passports in all 30 countries of the European Economic Area.
Building on Previous Crypto Moves
Selecting an external technology provider is the route other major banks have taken for crypto custody. Deutsche Bank tapped Swiss firm Taurus for digital asset custody and tokenization after what the provider called a detailed selection and due diligence process.
UniCredit has already introduced crypto products to its customers. The bank opened a five-year dollar-denominated certificate linked to BlackRock’s iShares Bitcoin Trust (IBIT) to professional clients in July 2025, with full capital protection at maturity, an 85% cap on returns and a minimum of $25,000. It was the first product of its type in Italy.
In December 2025, UniCredit and state lender Cassa Depositi e Prestiti structured Italy’s first tokenized mini-bond on a public blockchain, a €5 million issue for E4 Computer Engineering registered on Polygon.
UniCredit is also owned by Qivalis, an Amsterdam consortium that now has 37 European banks in 15 countries and plans to launch a MiCA-compliant euro stablecoin on Ethereum in the second half of 2026. The token would be backed one-for-one by euro deposits, subject to approval from the Dutch central bank.
Banks are moving into digital assets
Other major lenders have already started selling cryptocurrencies to their customers. BBVA has started offering Bitcoin (BTC) trading and custody to private bank clients in Switzerland, and Israeli bank Leumi has commissioned Galaxy to handle trading and custody for a 2027 launch covering Bitcoin, Ethereum (ETH), and Solana (SOL).
UniCredit is also expanding into digital markets beyond crypto. On September 8, it acquired a minority stake in VC Trade, a Frankfurt platform that digitizes bond and loan transactions. The platform has a presence in debt markets regardless of crypto plans and has processed over €90 billion across over 600 transactions.
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