UniCredit is evaluating crypto custody, brokerage, tokenized investments, fixed-income products and stablecoin services, and is seeking a technology partner to safeguard digital assets and process client transactions. The €34 billion-AUM bank, which serves more than 20 million customers across Italy, Germany, Austria and Central and Eastern Europe, has not made a final decision. Its previous digital-asset initiatives include a five-year Bitcoin-linked investment certificate for professional investors in Italy and the country’s first tokenized minibond on public blockchain infrastructure. UniCredit also belongs to Qivalis, a 37-bank consortium planning a MiCA-compliant euro stablecoin on Ethereum in the second half of 2026, backed one-for-one by euro deposits. The developments come as Circle prepares to launch its Arc Layer-1 blockchain with USDC as its native gas token on September 16, while BRICS countries discuss linking central bank digital currencies without a defined implementation timetable.