Share this article
UBS Eyes Blockchain in China Expansion
UBS plans to invest in blockchain as part of an expansion plan in China.
By Stan Higgins
Updated Sep 11, 2021, 12:37 p.m. Published Nov 21, 2016, 1:00 p.m.
Make us preferred on Google
UBS is expanding its footprint in China, a move that will also see the Swiss banking group boost its funding for blockchain research.
According to a report from the Shanghai Daily, UBS is opening a new business centre in the city of Wuxi, to feature a staff of about 200 when it opens. UBS has indicated that it wants to expand the business centre to about 500 staffers over the next three years, with an eye to double the amount of business it does in China during that period.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
In an interview with the Chinese newspaper, UBS group COO Axel Lehmann said that the bank is investigating projects like a new settlement system in a bid to achieve greater efficiency.
Lehmann told the publication:
"In this regard, it's a very important area for us to invest in to improve our overall value offering. So we are cooperating with our own in-house innovation labs as well as promoting an open architecture to share our information and data."
Like other banks of its size, UBS has spent much of the past two years testing applications in the areas of transaction settlement and trade finance. The bank is also a member of the R3 distributed ledger consortium.
Image Credit: Zhao jian kang / Shutterstock.com
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Gold tops $5,000 as bitcoin stalls near $87,000 in widening macro-crypto split: Asia Morning Briefing
Bitcoin’s onchain data points to supply overhang and weak participation, while gold’s breakout is priced by markets as a durable macro regime shift.
What to know:
- Gold’s surge above $5,000 an ounce is increasingly seen as a durable regime shift, with investors treating the metal as a persistent hedge against geopolitical risk, central bank demand and a weaker dollar.
- Bitcoin is stuck near $87,000 in a low-conviction market, as on-chain data show older holders selling into rallies, newer buyers absorbing losses and a heavy supply overhang capping moves toward $100,000.
- Derivatives and prediction markets point to continued consolidation in bitcoin and sustained strength in gold, with thin futures volumes, subdued leverage and weak demand for higher-beta crypto assets like ether reinforcing the cautious tone.
Top Stories
