UBS, the world’s largest global wealth manager, is reportedly weighing plans to offer cryptocurrency trading to its ultra-high net worth private banking clients. If implemented, the move would mark a major step in bringing digital assets further into traditional private banking.
According to a Bloomberg report citing a source familiar with the matter, the Swiss banking giant is considering allowing select private banking clients in Switzerland to trade Bitcoin (BTC) and Ether (ETH). The rollout could later expand to the Asia-Pacific region and the United States, depending on regulatory and operational readiness.
The source added that UBS is currently in the process of selecting partners for the proposed crypto trading service. The bank has not publicly confirmed the plan.
UBS Expands Blockchain and Tokenization Efforts
UBS has already been actively experimenting with blockchain technology, even before considering spot crypto trading for clients. The bank has launched tokenization pilots such as the uMINT tokenized U.S. dollar money market fund on Ethereum and has participated in a Swift-UBS-Chainlink trial focused on tokenized fund settlement.
Beyond asset management, UBS has also strengthened its blockchain initiatives in payments. The bank recently partnered with Ant International to trial tokenized deposits through its UBS Digital Cash platform in Singapore. The pilot aims to enable real-time cross-border treasury flows by allowing bank deposit claims to move across permissioned blockchains.
This approach could significantly reduce settlement times, allowing liquidity to move across Ant’s Alipay+ ecosystem in minutes instead of days, while positioning tokenized bank money as a potential alternative to traditional correspondent banking systems.
Wall Street’s Remaining Holdouts Embrace Crypto
If UBS moves forward with crypto trading, it would follow other major financial institutions that have already embraced digital assets. JPMorgan has been exploring crypto trading for institutional clients and uses its JPM Coin system for on-chain payments and collateral management. Asset management giants BlackRock and Fidelity have also become leading issuers of spot Bitcoin and Ether exchange-traded funds (ETFs).
Even Vanguard, long known for its skeptical stance on cryptocurrencies, reversed course in December 2025 by allowing clients to trade crypto ETFs on its platform, leaving few major institutions on the sidelines.
UBS managed approximately $4.7 trillion in client assets as of September 2025. Offering in-house crypto trading would create a direct on-ramp for ultra-high net worth clients seeking exposure to digital assets within a regulated private banking environment.
