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Swiss financial giant UBS Group is in the early stages of planning to offer digital currency investments to affluent clients, according to a Bloomberg report.
- The bank is exploring several alternatives for offering the asset class, the publication cited people familiar with the plan.
- Investment offerings would be a “small portion” of the clients’ total wealth due to the volatility, and options include investing through third party investment vehicles, said the publication.
- More investment banks are making a push to offer cryptocurrency investments. Goldman Sachs relaunched its cryptocurrency trading desk after a three-year hiatus, with plans to once again support bitcoin futures trading.
- Other banks including BNY Mellon and Deutsche Bank have entered the space. Citigroup is also considering launching crypto services amid a surge in interest from its clients.
- UBS was contacted for comment, but did not immediately respond at the time of publication.
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