UBS Group AG, a Swiss multinational investment bank and financial services company are intensively dealing with the issue of digital assets.
The first online media platform to draw attention to this information from people familiar with UBS's plans was Bloomberg, who confirmed that the Swiss bank was exploring several investment alternatives for digital assets.
The driving force behind the decision made by UBS is primarily to ensure that it does not fall behind other world-famous banks such as Goldman Sachs or even Morgan Stanley, which are a bit ahead in this regard.
For example, yesterday we reported about Goldman Sachs who is again a little more prepared for cryptocurrencies, thanks to a new trading team and the launch of a new Digital Assets dashboard.
We are monitoring the developments in the field of digital assets closely, UBS statement
An anonymous source informed about the future steps and mindset of a Swiss bank, which is even concerned that if it does not allow its rich clients to invest in cryptocurrencies, they may lose them.
However, it is not just about investing quoted by the source but also informed that UBS is interested in Blockchain Technology itself which is the basis of digital assets such as distributed ledger technology.
Chief Executive Officer Ralph Hamers who is one of the main drivers for this decision is primarily interested in reducing costs and also digitizing operations. The Swiss bank according to the reports invested around $ 3.5 billion each year in new technologies and infrastructure upgrades.