Share this article
Swiss Bank UBS Latest to See Key Blockchain Lead Depart
UBS has become the latest major bank to see a significant departure from its blockchain innovation team.
By Pete Rizzo
Updated Sep 11, 2021, 12:27 p.m. Published Aug 18, 2016, 12:50 p.m.
UBS has become the latest major bank to see a significant departure from its blockchain innovation team.
Innovation lab lead and 'crypto 2.0' researcher Alex Batlin will depart the firm in October, Financial News reports. The article cites an internal memo from the bank's head of innovation dated August 17.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
During his tenure at the bank, Batlin served as a mentor to FinTech startups at Level39, an R&D lab set up by UBS that served as a key vehicle for it to explore distributed ledgers and cryptocurrencies. Batlin also headed the firm's analysis of the impact of these technologies on the bank's business model.
According to the report, the memo asserts that UBS does not intend to shift its blockchain strategy, and that the move isn’t part of any cutbacks on innovation in this area at the bank.
The memo reads:
"There is no change to our focus and approach on blockchain technology. We are reviewing the options for internal and external candidates to lead the next phase of the programme and to extend our Level39 lab activities beyond blockchain as we move forward."
With the news, UBS joins a list of financial firms including BNP Paribas, Deloitte, JPMorgan and State Street that have seen blockchain subject matter experts depart in recent months.
Read our latest feature interview with Batlin here.
Image via UBS
More For You
L1 tokens broadly underperformed in 2025 despite a backdrop of regulatory and institutional wins. Explore the key trends defining ten major blockchains below.
What to know:
2025 was defined by a stark divergence: structural progress collided with stagnant price action. Institutional milestones were reached and TVL increased across most major ecosystems, yet the majority of large-cap Layer-1 tokens finished the year with negative or flat returns.
This report analyzes the structural decoupling between network usage and token performance. We examine 10 major blockchain ecosystems, exploring protocol versus application revenues, key ecosystem narratives, mechanics driving institutional adoption, and the trends to watch as we head into 2026.
More For You
Bitcoin heads for its worst Q4 since 2018 as traders see further fatigue
Data from CoinGlass shows bitcoin is down more than 22% so far in the fourth quarter, making 2025 one of the weakest year-end periods outside of major bear markets.
What to know:
- Bitcoin's price is nearing $90,000, offering a short-term boost to the crypto market, but analysts remain cautious about a significant recovery.
- The total crypto market capitalization has surpassed $3 trillion, yet analysts warn that the rebound may be driven by exhaustion rather than renewed confidence.
- Bitcoin remains about 30% below its 2025 peak, with the market still vulnerable to sharp reversals, particularly during U.S. trading hours.
Top Stories
