Swiss banking giant UBS, the world's largest wealth manager overseeing approximately $4.7 trillion in assets as of late 2025, is planning to launch cryptocurrency trading services for select private banking clients. According to reports, the bank will initially offer spot trading and derivatives for Bitcoin (BTC) and Ethereum (ETH) to high-net-worth individuals in Switzerland.
The rollout is expected to begin with Swiss private banking clients, with potential expansion to the Asia-Pacific region and the United States at a later stage. While UBS has been in discussions with potential partners for several months, the bank has not yet finalized its rollout plan or set a specific launch date. The bank stated it is "monitoring market dynamics and exploring initiatives that fit client needs and regulatory requirements."
This strategic shift marks a significant change in UBS's stance toward digital assets. For years, the bank maintained a cautious approach, describing crypto as a "limited segment of digital assets" and avoiding direct offerings due to regulatory uncertainty. The change is driven by increasing demand from wealthy clients for exposure to digital assets and competitive pressure from rivals like JPMorgan and Morgan Stanley, which have already made moves in the crypto space.
UBS CEO Sergio Ermotti declared at the World Economic Forum in Davos that blockchain technology is central to the future of traditional banking, citing its efficiency and scalability. This announcement follows UBS's existing blockchain infrastructure initiatives, including the UBS Tokenize platform for on-chain issuance of tokenized financial products and the UBS Digital Cash pilot for multi-currency cross-border payments on a private blockchain. Notably, UBS launched the first tokenized money market fund on Ethereum through its Tokenize initiative and has conducted pilots with partners like Chainlink and Swift.
If UBS proceeds with the plan, it will become the largest traditional wealth manager to offer direct crypto access to clients, potentially setting a precedent that could push other major private banks to follow suit.
