Key Takeaways
According to Bitcoin Magazine, Italy's second largest bank, UniCredit, is considering expanding into digital asset offerings, including crypto custody.
According to Bitcoin Magazine, Italy's second largest bank, UniCredit, is weighing up crypto custody and digital asset services. Reports indicate that the Milan-based bank is selecting a technology provider to build infrastructure for holding digital assets, facilitating buying and selling, utilizing stablecoins, and handling tokenized investment products and fixed-income securities.
This development occurs as other European banks expand their digital asset services. In Spain, BBVA rolled out bitcoin trading and custody, and Santander's Openbank introduced a trading service. Cecabank launched crypto custody via a partnership with Bit2Me. In Germany, Deutsche Bank is developing custody using Bitpanda's technology arm, while Taurus and DZ Bank received BaFin approval for the meinKrypto platform.
Additionally, the European Union's Markets in Crypto-Assets Regulation (MiCA) provides a legal framework for these services. UniCredit is also among 37 lenders across 15 European countries collaborating to create Qivalis, which aims to issue a euro-denominated stablecoin. Previously, UniCredit offered professional clients a structured product tied to BlackRock's iShares Bitcoin Trust exchange-traded fund with full loss protection.
Source & Fact-Check Note
This report is synthesized from coverage by Bitcoin Magazine. Information has been fact-checked and structured for market clarity by CoinQuickly’s research desk.
Read original article at Bitcoin Magazine ↗
