All news is rigorously fact-checked and reviewed by leading blockchain experts and seasoned industry insiders. - UniCredit is evaluating external technology providers for direct digital asset custody and brokerage.
- The infrastructure could cover crypto exposure, tokenized investments, fixed income and stablecoin-related services.
- Previous investments in BlockInvest and VC Trade have already expanded the bank’s tokenized capital markets capabilities.
- Vendor selection will show how closely UniCredit intends to connect crypto services with its existing securities business.
UniCredit is looking for a technology provider to build direct digital asset custody and brokerage infrastructure, adding a client-facing layer to blockchain investments the Italian bank has already made across tokenized debt and settlement. According to Bloomberg, the selection process remains at an early stage, with no vendor chosen and no final decision on which services will reach clients. The project nevertheless moves the bank beyond individual tokenization initiatives toward infrastructure capable of supporting digital assets inside its broader financial business.
UniCredit evaluates custody and brokerage infrastructure
The technology search covers more than cryptocurrency storage.
UniCredit is considering infrastructure that could support crypto-asset exposure, tokenized investment products, fixed-income securities and stablecoin-related tools for clients.
Custody would require the bank to manage a different operational layer from conventional securities accounts. Institutional digital asset systems need controls around private-key management, transaction authorization, asset segregation and recovery procedures. A brokerage service must additionally connect custody with execution venues, liquidity providers and the bank’s compliance systems.
The choice of an external provider could reduce the need to build that infrastructure internally, but the architecture will determine which functions UniCredit controls itself and which remain dependent on third parties.
The scope is not final. That makes the vendor selection particularly useful for judging whether UniCredit is preparing a focused crypto service or infrastructure designed to handle multiple forms of digital financial assets.
Tokenized debt investments provide the existing foundation
UniCredit has already committed capital to companies building blockchain infrastructure for traditional financial instruments.
Its recent activity includes:
- BlockInvest: UniCredit invested €4 million for approximately 16% of the Italian blockchain company in April 2026, targeting infrastructure for native digital financial instruments.
- Tokenized mini-bond: The bank has participated directly in blockchain-based debt issuance in Italy.
- VC Trade: UniCredit acquired a minority stake in the German digital debt marketplace in September, with an option to increase its holding.
These projects address the issuance and processing of digital securities. Custody and brokerage would fill a different gap by providing infrastructure through which clients could hold and transact those assets.
That distinction matters for institutional tokenization. Issuing a bond on blockchain does not by itself create a complete market. Investors still need regulated access, custody, trading and settlement infrastructure before tokenized securities can operate alongside conventional instruments at scale.
Qivalis develops the euro settlement component
UniCredit is separately involved in Qivalis, the bank-backed initiative developing a regulated euro stablecoin.
The consortium has grown to 37 financial institutions across 15 European countries and plans a stablecoin backed 1:1 by euros. Qivalis has applied to De Nederlandsche Bank for authorization as an Electronic Money Institution and is targeting launch in the second half of 2026, subject to regulatory approval.
Qivalis consortium expansion announcement
The project addresses the cash side of onchain finance rather than UniCredit’s own custody requirements. A euro-denominated settlement asset could allow tokenized securities and payments to exchange value using blockchain infrastructure without relying on a separate offchain payment leg.
MiCA provides the regulatory framework for the stablecoin and crypto-service components, but Qivalis still requires its Dutch authorization before launch. The consortium’s regulatory progress therefore remains separate from UniCredit’s technology-provider search.
Vendor choice will reveal how broad the strategy is
The technical capabilities of the selected custody provider should offer the clearest indication of what UniCredit intends to build.
A system centered on Bitcoin, Ethereum and a limited number of crypto assets would point toward a conventional institutional crypto brokerage model. Support for tokenized bonds, stablecoins and other blockchain-native securities would indicate a wider capital markets architecture.
Public blockchain connectivity will be another signal. So will support for institutional key management, policy-based transaction approval, asset segregation and interoperability with conventional securities systems.
Those capabilities matter because banks rarely operate digital assets as isolated products. Client positions must eventually connect with identity checks, transaction monitoring, reporting, risk controls and existing portfolio infrastructure.
No vendor has yet been selected, so those questions remain open. The eventual technology mandate will show whether UniCredit is primarily adding crypto custody for client demand or building infrastructure capable of placing crypto assets, tokenized securities and onchain settlement within the same institutional operating environment.
