Key Highlights
- UniCredit is evaluating technology providers to develop infrastructure for holding and trading digital assets.
- Potential offerings include tokenized investment products, fixed-income securities, stablecoin services, and cryptocurrency exposure.
- UniCredit previously offered professional clients a structured product linked to BlackRock’s iShares Bitcoin Trust ETF.
UniCredit SpA is considering expanding its digital asset offerings, including developing custody and brokerage capabilities at an early stage.
According to a Bloomberg report published on September 11, 2026, the Italian bank is selecting a technology provider to build the infrastructure required to hold digital assets and facilitate their buying and selling, people familiar with the plans said. The individuals asked not to be identified because the information is private.
Discussions on the specific products and services that would be offered through the technology remain at an early stage, and no final decision has been made, the people said. Areas under consideration include tokenized investment products and fixed-income securities, the use of stablecoins by clients, and ways for clients to gain exposure to cryptocurrencies.
A UniCredit spokesperson declined to comment.
Prior digital asset activity
The report further mentions that UniCredit has previously focused on professional investors and corporations. Last year, the bank offered professional clients a structured product tied to BlackRock Inc.’s iShares Bitcoin Trust ETF.
Late last year, it issued Italy’s first tokenized minibond on a public blockchain. Tokenization refers to the process of issuing and transferring traditional assets using blockchain networks.
UniCredit is also among a group of European banks that formed a company called Qivalis to issue a euro-denominated stablecoin. This week, the bank announced the acquisition of a minority stake in German lending markets platform VC Trade to expand its digital capital markets capabilities.
Bank of Italy research on stablecoin remittances
Italy has witnessed other developments in the crypto industry in the recent past. In a research paper published in July, titled “Are Stablecoins Efficient for Remittances? Evidence from a Mystery Shopping Exercise,” the Bank of Italy examined the efficiency of stablecoins for cross-border payments.
Researchers tested 200-USDC transfers across 10 corridors linking Italy with Argentina, Brazil, South Africa, the United Arab Emirates and Japan.
Transfers were executed in both directions using exchanges including Binance and Kraken, as well as regional platforms such as Ripio, Foxbit, BitOasis, and Valr. The transactions were conducted on March 24 and 26, 2026, with Ethereum used for the on-chain transfers except for the Italy-Japan corridor.
The study found that while blockchain transfers themselves were inexpensive and relatively fast, the overall cost and speed of stablecoin-based remittances were largely determined by fiat conversion costs and the quality of local payment infrastructure.
The Bank of Italy concluded that stablecoins do not consistently offer cheaper or faster cross-border remittances than existing payment services.
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