UBS

UBS works in four business divisions: Global Wealth Management, Personal & Corporate Banking, Asset Management and the Investment Bank. In the Swiss financial center, the bank has around 200 branches and 4,600 client advisors, serves one in three households and works with more than 120,000 companies. These Swiss figures do not include the former Swiss bank of Credit Suisse. The asset management division, UBS Asset Management, has a presence in 22 countries.

In its results for the second quarter of 2026, UBS reported group invested assets of USD 7.3 trillion. The bank also said that the integration of Credit Suisse was on track for completion by the end of 2026, with more than 90 percent of the legacy applications no longer in use.

UBS Tokenize is the in-house tokenization service of UBS and covers origination, issuance, distribution and custody, starting with bonds, funds and structured products. The service issues assets on public and private blockchains, and UBS engages regulated custodians to hold the tokenized assets. In 2022, UBS sold a USD 50 million tokenized fixed rate note to clients in Asia Pacific through UBS Tokenize.

In November 2022, UBS AG issued a digital bond of CHF 375 million with a three-year term and a coupon of 2.33 percent. The bond was listed, traded and settled on SIX Digital Exchange and was also listed on SIX Swiss Exchange. One year later, UBS, SBI and DBS completed a repo transaction with a natively issued digital bond on a public blockchain, borrowing tokenized Japanese yen against a yen bond.

In February 2024, UBS AG sold a tokenized warrant on Xiaomi shares to OSL Digital Securities in Hong Kong, issued on the public Ethereum network. In June 2026, UBS and Nethermind completed two proofs of concept on Ethereum, in which a configured node allowed transactions only to pre-approved addresses. Both tests ran on the Sepolia test network without live transactions and without changes to the Ethereum protocol.

UBS Asset Management started with tokenized funds in Singapore in October 2023, when it launched a live pilot of a tokenized Variable Capital Company fund. The pilot belonged to Project Guardian of the Monetary Authority of Singapore and used UBS Tokenize to process subscriptions and redemptions through smart contracts on Ethereum.

In November 2024, the asset manager launched the UBS USD Money Market Investment Fund Token, or uMINT, as its first tokenized investment fund. uMINT is a tokenized money market fund built on Ethereum, and investors buy it through authorized distribution partners of UBS.

UBS was one of six commercial banks in the third phase of Project Helvetia, a pilot of the Swiss National Bank and SIX with wholesale central bank digital currency. From December 2023 to June 2024, the participating banks issued digital Swiss franc bonds on SIX Digital Exchange and settled them against this central bank money, delivery versus payment. The other banks were Banque Cantonale Vaudoise, Basler Kantonalbank, Commerzbank, Hypothekarbank Lenzburg and Zürcher Kantonalbank.

UBS also takes part in Project Agorá, in which the Bank for International Settlements and seven central banks test tokenized commercial bank deposits and central bank money for cross-border payments. In November 2024, UBS reported a pilot of UBS Digital Cash, a payment system on a private blockchain for corporate and institutional clients, with payments in US dollars, Swiss francs, euros and Chinese yuan. Smart contracts execute each payment as soon as the agreed conditions are met, and the system processes transfers almost in real time around the clock.

In April 2026, UBS joined PostFinance, Sygnum, Raiffeisen, Zürcher Kantonalbank, BCV and Swiss Stablecoin AG in a joint sandbox for a Swiss franc stablecoin. The partners test selected use cases for the stablecoin in a secure live environment, based on a list of use cases they develop together.

UBS appointed Daniele Magazzeni as Chief Artificial Intelligence Officer from 1 January 2026, based in London and reporting to Mike Dargan, Group Chief Operations and Technology Officer. Daniele Magazzeni came from J.P. Morgan, where he was Chief Analytics Officer for EMEA and the Commercial and Investment Bank, and he had earlier been an associate professor of artificial intelligence at King's College London.

At the time of the appointment, UBS counted more than 300 live AI use cases and was rolling out Microsoft 365 Copilot and its in-house AI assistant Red to all employees. The new Chief Artificial Intelligence Office oversees the deployment of AI tools at scale and sets common standards for them across the bank.

UBS has no active offering in crypto, because the bank sees the segment as still emerging and regulation around the world as still evolving and unclear. The digital asset business of UBS concentrates on tokenized bonds, funds and structured products, which regulated custodians hold for UBS Tokenize.

On 4 November 2025, UBS Tokenize and DigiFT completed a live subscription and redemption of uMINT with the Digital Transfer Agent standard of Chainlink, and DigiFT acted as the on-chain distributor. The standard covered order taking, execution, settlement and data synchronization across the on-chain and off-chain systems of the fund.

On 7 November 2024, UBS and Deutsche Bank ran an experiment with the Trigger Solution of the Deutsche Bundesbank, part of the Eurosystem exploratory work on wholesale settlement in central bank money. The two banks settled fictitious corporate client payments with tokenized deposits, including payments originally in Swiss francs and British pounds that were settled in euros in the TARGET test environment. UBS had already tested tokenized FX and deposit transactions in proofs of concept between 2019 and 2021.

UBS completed the acquisition of Credit Suisse on 12 June 2023, and Credit Suisse Group AG merged into UBS Group AG on that day. Shareholders of Credit Suisse received one UBS share for every 22.48 Credit Suisse shares, and UBS expects to complete the integration by the end of 2026.

UBS AG has two registered offices, at Bahnhofstrasse 45 in Zurich and at Aeschenvorstadt 1 in Basel. The company was formed on 29 June 1998 through the merger of Union Bank of Switzerland and Swiss Bank Corporation.