UniCredit reportedly explores crypto custody as European banks expand digital assets

According to reports, Italy's second-biggest lender is contemplating an expansion into digital asset services such as custody.

The Bloomberg report, published Friday and citing sources, said the Milan-based bank is choosing a tech provider to build the infrastructure for holding and trading digital assets.

Bloomberg also noted that tokenized investments, fixed-income securities, stablecoins, and cryptocurrency exposure are being considered.

JUST IN: Italy’s 2nd-largest bank UniCredit is considering to offer crypto asset custody — Bloomberg pic.twitter.com/NAZKJBdcES

— Bitcoin Magazine (@BitcoinMagazine) September 11, 2026

This development follows a trend of European banks broadening their crypto services. In Spain, BBVA became the first retail bank to offer bitcoin trading and custody through its app, relying on its own infrastructure; Santander's Openbank subsequently launched a similar trading service.

Spanish custodian Cecabank, which manages over €400bn and serves as a backbone for more than 100 financial institutions, began offering crypto custody in June through a partnership with Bit2Me.

In Germany, Deutsche Bank is developing custody using Bitpanda's technology, while Taurus and DZ Bank secured BaFin approval in January for their meinKrypto platform.

The European Union's Markets in Crypto-Assets Regulation (MiCA) provides banks with a legal framework, a supervisory authority, and clear obligations for offering crypto services.

UniCredit is among 37 lenders from 15 European nations collaborating to establish Qivalis, a company intended to issue a euro-denominated stablecoin.

Last year, UniCredit stated that it was providing professional clients with a structured product linked to BlackRock's iShares Bitcoin Trust ETF, which offers full loss protection.