UniCredit, one of Italy's largest banking groups, is reportedly seeking a partner to help it build out crypto trading, custody and tokenized investment product services.
According to the report, the bank is looking specifically for an infrastructure provider rather than developing the underlying technology in-house, a common approach among traditional lenders entering digital assets for the first time.
The scope described covers three areas: crypto trading, custody of digital assets, and tokenized investment products. No further detail has been disclosed on the timeline, the identity of potential partners, or the scale of the planned rollout.
Why it matters for European banking
UniCredit's move, if confirmed, would place it among a growing number of European banks exploring regulated entry points into crypto markets, as institutional demand for digital asset exposure continues to build across the continent. Custody and tokenization services in particular have become focal points for banks looking to offer clients access to digital assets without ceding the relationship to standalone crypto exchanges.
Tokenized investment products, which represent traditional financial instruments on blockchain infrastructure, have drawn particular interest from banks seeking to modernize settlement and custody processes while staying within existing regulatory frameworks applicable to the sector in Europe.
No additional details on UniCredit's plans, including whether the bank has already engaged specific technology providers or when any services might launch, have been made public at this stage.
