UBS CEO says bank to expand digital asset business over 3-5 years

Swiss banking giant UBS is pursuing a "fast follower" tokenization strategy while exploring cryptocurrency access for its private clients, according to CEO Sergio Ermotti. During a conference call, Ermotti said the bank is building core infrastructure and exploring tailored services, ranging from crypto access for private clients to deposit token solutions for businesses. The expansion into digital assets will be phased over three to five years to complement the bank's core wealth management business. CoinNess previously reported that UBS planned to offer crypto trading services to some of its private banking clients.