Italian banking group UniCredit is considering a broader entry into digital assets, including crypto custody and brokerage services. The bank has begun evaluating technology providers to hold assets and handle client transactions, though discussions remain early. UniCredit has previously tested the market with a Bitcoin-linked certificate and Italy’s first public-blockchain tokenized minibond. Any crypto services would fall under the EU’s MiCA regulation, which took full effect July 1. Other major lenders such as Deutsche Bank and BBVA have already launched crypto offerings. UniCredit also participates in the Qivalis consortium planning a MiCA-compliant euro stablecoin.
UniCredit is exploring an expansion into digital assets that would add crypto custody and brokerage, and has started selecting a technology provider to hold the assets and handle client transactions, as stated. The discussions are early and no final decision has been made. Areas under consideration include custody, brokerage, tokenized investment products, fixed-income securities, and stablecoin applications for clients. The bank has not disclosed which providers it is weighing, how much it might spend, or when it would choose one.
Any crypto services would fall under the EU’s Markets in Crypto-Assets regulation, whose grace period ended on July 1. MiCA requires crypto-asset service providers to hold a license and lets authorized firms passport custody and trading across the 30-country European Economic Area.
Selecting an outside technology provider is the path other large banks have taken into crypto custody. Deutsche Bank tapped Swiss firm Taurus for digital asset custody and tokenization after what the vendor called a detailed selection and due diligence process.
UniCredit has already put crypto products in front of clients. In July 2025, the bank opened a five-year, dollar-denominated certificate linked to BlackRock’s iShares Bitcoin Trust (IBIT) for professional clients, with full capital protection at maturity, a cap of 85% on returns and a $25,000 minimum. It was the first product of its kind in Italy. In December 2025, UniCredit and state lender Cassa Depositi e Prestiti structured Italy’s first tokenized minibond on a public blockchain, a $5.4 million issue for E4 Computer Engineering recorded on Polygon.
UniCredit also belongs to Qivalis, an Amsterdam consortium that has grown to 37 European banks across 15 countries. The consortium plans to launch a MiCA-compliant euro stablecoin on Ethereum in the second half of 2026, backed one-for-one by euro deposits, subject to approval from the Dutch central bank.
Other large lenders have already started selling crypto to clients. BBVA began offering Bitcoin trading and custody to private banking clients in Switzerland. Israel’s Bank Leumi lined up Galaxy to run trading and custody for a 2027 launch covering Bitcoin, Ethereum and Solana.
UniCredit is also expanding in digital markets beyond crypto. On September 8, it bought a minority stake in VC Trade, a Frankfurt platform that digitizes bond and loan deals. That platform has handled over $97 billion across more than 600 transactions.
