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Julius Baer Eyes Expansion to Dubai for Crypto Services: Bloomberg
The expansion would be the private bank's first for its crypto offering beyond its native Switzerland, where it has provided digital asset services since the start of 2020.
Jun 29, 2023, 3:13 p.m.
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Swiss private bank Julius Baer (BAER) is expanding its crypto services to Dubai, Bloomberg reported on Wednesday.
The Zurich-based bank will apply for a "digital assets license variation" to supplement its existing regulatory permissions in the emirate.
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An expansion would be Julius Baer's first for its crypto offering beyond its native Switzerland, where it has provided digital asset services since the start of 2020.
Dubai has attracted several major crypto firms during the past year, including exchanges Binance and OKX. The establishment of its Virtual Asset Regulatory Authority (VARA) has helped make the jurisdiction an attractive alternative to countries like the U.S., where there is less regulatory clarity.
Julius Baer did not immediately respond to CoinDesk's request for comment.
Read More: Dubai: Launching a Crypto Regulatory Arm to Become a Global Financial Power
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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.
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- 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.
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Stablecoins moved $35 trillion last year but only 1% of it was for 'real world' payments
While stablecoins settled around $35 trillion last year, only around 1% of that represented genuine payments like remittances and payroll, a new report found.
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- Stablecoins processed more than $35 trillion in transactions last year, but only about 1% of that reflected real-world payments, a report by McKinsey and Artemis Analytics found.
- The study estimated that roughly $390 billion in genuine stablecoin payments, such as vendor payments, payrolls, remittances and capital markets settlements.
- Despite rapid growth and increasing interest from traditional payment firms like Visa and Stripe, true stablecoin payments still account for just a tiny fraction of the more than $2 quadrillion global payments market, the report said.
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