The Swiss financial leviathan UBS Group prepares to introduce tools for investments in cryptocurrencies and conveyed its willingness to utilize blockchain in its business processes.
The investment bank started studying options to offer its affluent customers the chance to invest in digital assets. The Bank is contemplating the use of third-party investment tools.
Given the increasing interest of investors in crypto assets, UBS believes it essential to react to the situation, so it does not lose customers and provide for their needs. It is noteworthy that earlier UBS experts were cautious of Bitcoin, believing that its high volatility might prevent it from developing into a reliable method of keeping value.
UBS CEO Ralph Hamers stated he is closely following the expansion of digital assets. Nevertheless, UBS management is also entranced by the blockchain technology sitting in the core of cryptocurrencies. The bank is studying the potential of blockchain and artificial intelligence to cut costs and better focus on the needs of its insistent clients. Hamers thinks that blockchain can upgrade the bank’s current infrastructure and provide conditions for developing inventive tools for employees and products for service consumers.
Numerous banks have recently become serious-minded about investing in cryptocurrencies. In the last few weeks, American bank Goldman Sachs announced the launch of Bitcoin derivatives, and Citigroup plans to launch a platform for crypto trading and custody.
