Reports say Swiss banking giant UBS is planning to let a small group of its private bank clients buy and sell major cryptocurrencies. The step would open access to Bitcoin and Ethereum for people who have worked with the bank for years, not for every customer.
Private Clients First
According to a Bloomberg report, the service would start in Switzerland and be offered only to select private banking clients, with any wider rollout dependent on rules and demand. The move is careful and measured. It is being tested with a narrow set of clients before any wider push is considered.
How It Would Work
Reports note that UBS has been talking with outside firms about providing the trading, custody and compliance pieces needed to make crypto trading run smoothly.
Partners would likely handle technical tasks while UBS keeps the client relationship front and center. Those talks have been going on for months, and no final deals are said to be done yet.
Why Now
Wealthy clients have been a
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