One of the world’s largest private banks, UBS, is allegedly planning to allow cryptocurrency trades for its wealthiest patrons. This may be one of the major milestones for the traditional financial world as it continues to embrace the cryptocurrency environment.
As revealed by Bloomberg, the intentions of UBS are to allow a few of its private banking clients in Switzerland to trade Bitcoin (BTC) and Ether (ETH) before expanding the initiative to its clients in the Asia Pacific and the United States.
Though the intentions of the bank are yet to be officially confirmed, sources familiar with the information revealed that the bank is currently selecting partners for the initiative.
In addition, UBS is also experimenting with blockchain technology. The banking institution is conducting pilot projects, like its uMINT tokenized US dollar money market fund on the Ethereum blockchain, and a test involving Swift, UBS, and Chainlink to settle traditional fund products on a blockchain technology platform. This allows UBS to test blockchain technology before fully investing in the trading of spot cryptocurrencies.
In addition, the bank has strengthened its blockchain presence with regard to cross-border payments. In Singapore, the bank is collaborating with Ant International to conduct a tokenized deposit trial for real-time treasury flows on its UBS Digital Cash platform.
The pilot may facilitate Ant to transfer funds across its Alipay+ ecosystem in minutes instead of days by putting bank deposit claims on ledgers that are permissioned. This may provide an alternative to traditional systems of correspondent banking.
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Other major financial institutions are not expected to lag in this trend. They have already started embracing crypto assets. JPMorgan is considering crypto trading services to serve institutional clients and has already started using JPM Coin to facilitate on-chain transactions and collateral services.
BlackRock and Fidelity have emerged as important players in launching spot Bitcoin and Ether ETFs. Vanguard, a firm that was previously hesitant to embrace cryptocurrency, changed its mind in December 2025, enabling clients to trade cryptocurrency ETFs.
As of September 2025, UBS Group manages around $4.7 trillion in client assets. If the bank is to proceed with its plans, it could develop a direct crypto “on-ramp” for ultra-high net worth clients and thus integrate crypto assets into some of the world’s biggest private wealth portfolios.
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