Swiss bank UBS Group is reportedly considering offering cryptocurrency services to its affluent customers. UBS is thus on a growing list of major investment banks that already offer or plan to offer crypto-investments to their clients, including Morgan Stanley, Goldman Sachs and Citigroup.
According to a Bloomberg report, the bank is in the initial stage of planning its offers. Other investment options related to cryptocurrencies are being considered, but any offer would represent a small percentage of customers’ total wealth due to their volatility, anonymous sources said. Some of the options considered include investing through investment vehicles in the role of mediator.
It is noted that, based on total assets, UBS is the largest Swiss bank with total assets over $1.13 trillion. It is followed by Credit Suisse with assets of $992 billion.