UBS Plans Bitcoin, Ethereum Trading for Select Swiss Clients

UBS Group AG, the world's largest wealth manager overseeing approximately 4.7 trillion in assets, plans to allow select private banking clients in Switzerland to trade Bitcoin and Ethereum, according to sources familiar with the matter. The initiative, still in the planning stages, reflects growing demand from ultrahigh-net-worth individuals and could expand to the Asia-Pacific region and the United States after the initial rollout.

The Swiss banking giant is currently evaluating partners and internal systems to facilitate the service, focusing on compliance and risk management. Sources indicate that access will be limited to a small group of eligible clients, aligning with UBS's core business of providing advisory services to wealthy families rather than broad retail offerings. The bank has not publicly confirmed the details and did not immediately respond to requests for comment.

This move marks a cautious step for UBS into direct cryptocurrency trading, building on its existing blockchain experiments. In November 2024, the bank launched UBS Digital Cash, a private blockchain pilot for multicurrency cross-border payments aimed at improving efficiency in treasury operations....