RATE Group | Ex-UBS Head Wants His Crypto Bank to Tap $220B Cryptocurrency Market
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Ex-UBS Head Wants His Crypto Bank to Tap $220B Cryptocurrency Market

26 Sep Ex-UBS Head Wants His Crypto Bank to Tap $220B Cryptocurrency Market

Posted at 22:36h in Cryptocurrency News by

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Peter Wuffli, the former CEO of Switzerland’s largest bank UBS and director at Swiss crypto bank Sygnum, wants to tap the “$220 billion market of institutions and private individuals who already own cryptocurrencies.”

Local news outlet SwissInfo reported on Sept. 26 that Wuffli has shown excitement concerning the potential of crypto assets. In an interview, he told the outlet:

“The most immediate opportunity is the existing $220 billion market of institutions and private individuals who already own cryptocurrencies. Thousands of clients have contacted us for a one-stop-shop for asset custody, loans and trading cryptocurrencies seamlessly with fiat currencies.”

Asset tokenization is the next frontier

Wuffli noted that he believes the tokenization of assets such as company shares, real estate, art or commodities is the next frontier in the industry. However, he also admits that there are still many unanswered questions, and many of them are regulatory in nature.

Wuffli also…

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