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Swiss banking giant UBS to reportedly offer rich clients crypto investments

May 10, 2021. Summarized by summa-bot.

Compression ratio: 41%. 1 min read.

UBS is reportedly exploring ways to offer its clients exposure to digital assets

UBS Group AG is exploring various ways to offer its wealthy clients the possibility of investing in digital assets, anonymous sources claim.

Sources familiar with the Swiss firm's plans suggest that investments in digital assets via third-party investment vehicles could be one of the options open to clients.

A critic of central banks' loose monetary policies, Hamers is focusing on technology investments at UBS and has shifted to a quarterly allocation to technology projects as opposed to the firm's previous strategy of fixed funding on an annual basis.

He has also been an advocate of using artificial intelligence to better understand clients' demands, and is prioritizing the digitization of execution platforms and services at UBS' investment bank and improving digital services more broadly.

Bloomberg's sources have alleged that UBS is concerned it will lose clients if it does not step up to offer them investment opportunities in digital assets.

by summa-bot

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