UBS prepares cryptocurrency investment options for select private banking clients in Switzerland

UBS Group AG UBSis planning to offer cryptocurrency investment options to select private banking clients, according to a report from Bloomberg News. The proposed offering would initially allow a specific group of clients at the lender's private bank in Switzerland CHto buy and sell Bitcoin BTCUSDand Ethereum ETHUSD.

While the service is currently slated to begin with a select group in Switzerland, the initiative could later be expanded to other major markets, including the United States USand the Asia-Pacific region. UBS Group AGis currently in the process of selecting partners for the proposed cryptocurrency offering. Reuters could not immediately verify the details of the Bloomberg report.