The world’s largest private bank has by far been extremely skeptical of cryptocurrencies. But UBS is clearly on the verge of taking off in this direction.
UBS has begun planning to offer cryptocurrency to its wealthy customers: This has been reported Bloomberg Agency From an unknown source. Various variables are currently being investigated at the largest Swiss bank, it was said. Hence, offers from third parties are also eligible.
The institute is responding to growing customer demand, according to the report. In fact, due to the cryptocurrency boom, professional Swiss service providers are being overrun by customers, such as finews.ch I recently reported. Within a year, Bitcoin alone, as the most important cryptocurrency, gained nearly 600 percent in value against the dollar. According to the agency, UBS only wants to invest small portions of its client’s portfolio in the new asset class due to the large volatility in the digital currency.
The impact of the signals is tremendous
Big bank told Bloomberg on the recording, watch the development of digital assets. Generally speaking, they are primarily interested in the capabilities of the blockchain technology on which tokens and digital currencies depend.
In fact, UBS is one of the pioneers of the banking scene in this area, for example with its blockchain lab in London. In contrast, the institute has so far been very skeptical of cryptocurrencies.
Since then, Dar Al Mal has pursued and partially discontinued numerous blockchain projects. If UBS, as the world’s largest private bank, were to openly invest in crypto assets, it would undoubtedly have an enormous signal effect on the scene. Last but not least, the Swiss are reacting to competition pressures, especially from the major American banks.
Credit Suisse has a new president in Antonio Horta Osorio. Can he turn it over?
Yes, it will completely rebuild Credit Suisse.
Yes, but it will take at least two years.
Yes, once he changes management.
The odds are from 50 percent to 50 percent.
No, he will hardly be able to achieve anything.