Riot Games has discussed potential esports sponsorship agreements with prediction market operators Kalshi and Polymarket as the League of Legends World Championship approaches in October.

Bloomberg reported on Sept. 11, citing people familiar with the private talks, that the Tencent-owned video game developer has held discussions with both companies over possible deals involving its esports business.

Riot, which operates competitive tournaments for League of Legends and Valorant, has not committed to either platform.

“Prediction markets are an emerging space that we’re evaluating with a focus on safeguarding competitive integrity, potential value for teams, impact on the fan experience, and alignment with our broader ecosystem goals,” Riot Games spokesperson Joe Hixson told Bloomberg.

Kalshi declined to comment on the discussions, while Polymarket did not respond to Bloomberg’s request for comment.

Riot Games could require official esports data

Any prediction market sponsor approved by Riot would be required to obtain official betting data through GRID Esports, one person familiar with the discussions told Bloomberg.

GRID already has ties to Polymarket. The prediction market operator partnered with GRID in June, gaining access to official esports data and announcing plans for faster streams, a redesigned esports section and data taken directly from game servers.

The requirement would place official game data within any sponsorship arrangement as Riot considers bringing prediction markets closer to its competitive ecosystem.

League of Legends and Valorant tournaments draw millions of viewers globally, with esports audiences skewing younger than those of traditional sports. Riot has previously cited Sportradar data showing betting tied to its two major titles reached $10.7 billion in 2024.

Most of that activity took place through unregulated markets and unlicensed bookmakers, according to Riot. The company began permitting sponsorships from traditional sports betting operators in 2025, subject to restrictions intended to protect competitive integrity.

Prediction markets already offer contracts on esports matches, allowing traders to take positions on game outcomes without a formal sponsorship relationship with Riot.

Kalshi has been recruiting for an esports-focused position tasked with forming league partnerships and increasing its presence in the sector. Polymarket had employees working on esports by at least 2025, according to LinkedIn information cited by Bloomberg.

Kalshi and Polymarket push further into sports

The Riot discussions would extend a series of deals bringing prediction markets into professional sports and entertainment.

At the end of August, Kalshi secured an exclusive US Open partnership with the U.S. Tennis Association. The agreement gave the company prediction market partner status and restricted competing platforms from advertising at the tournament venue and across its television coverage.

Kalshi had already gained FIFA World Cup exposure through an agreement with ADI Predictstreet, FIFA’s official prediction market partner for the 2026 tournament. As crypto.news previously reported, the World Cup partnership placed Kalshi branding alongside ADI Predictstreet across stadium, television and digital coverage during the competition.

Polymarket has pursued a similar strategy.

The company has signed agreements spanning Major League Baseball, the Bundesliga and other sports properties. Its Bundesliga agreement made Polymarket the league’s exclusive U.S. prediction market partner and included the use of market data during pay-per-view programming.

NBA star LeBron James became one of the latest prominent athletes connected with the company when he confirmed a Polymarket partnership through a video posted on X on Sept. 5. The initial campaign is expected to focus on American football, according to CNBC.

Prediction market operators have been competing for sports users as trading activity across the sector has climbed. Combined monthly volume across Kalshi, Polymarket and Polymarket US reached a record $50.59 billion in July, with Kalshi accounting for $37.7 billion.

Esports sponsorships come with integrity concerns

Riot’s consideration of prediction market sponsors comes as sports organizations take different positions on partnerships with the sector.

The National Football League has held back from signing prediction market sponsorships, citing concerns over inadequate regulation and ongoing legal challenges, Bloomberg reported earlier this month.

Riot has its own concerns because betting activity can create integrity risks around professional matches. Its evaluation of prediction markets is therefore considering competitive integrity alongside the possible financial benefits for esports teams and effects on fans, according to Hixson.

Sponsorship income remains an important source of revenue for esports organizations. NewZoo estimates that sponsorships can account for as much as 60% of an organization’s revenue, while the industry has historically struggled to generate sufficient income from merchandise and ticket sales.

Prediction market companies have spent heavily to place their brands around major sporting events while developing systems intended to detect prohibited trading.

Kalshi uses its proprietary Poirot detection system and has worked with Solidus Labs, IC360 and the Wharton Forensic Analytics Lab on surveillance and integrity controls. Polymarket has developed Vergence AI, an integrity monitoring system created with support from Palantir and TWG AI.

Prediction markets face state legal battles

Sports contracts remain one of the main sources of regulatory pressure on Kalshi and Polymarket in the United States.

State gaming regulators and attorneys general have argued that contracts tied to game winners, player statistics and other sporting outcomes amount to sports betting and should fall under state gambling laws. Prediction market operators have countered that their event contracts are derivatives subject to federal oversight.

The dispute has produced different outcomes across U.S. courts.

A Washington state judge in July granted a preliminary injunction blocking Kalshi from offering sports prediction markets to residents after finding the state was likely to succeed in arguing that the products violated local gambling laws.

Kalshi has faced similar challenges in New York and Michigan, while lawsuits involving prediction market regulation have spread across numerous states.

Baltimore sued both Kalshi and Polymarket in August, accusing the companies of offering unlicensed sports betting. The city’s case against Kalshi named Coinbase, Robinhood and Webull over their role in distributing sports event contracts.

Despite the legal disputes, sports have become a major source of activity for prediction markets. During the 2026 FIFA World Cup, monthly sports prediction volume reached $9.5 billion on Kalshi and $5.3 billion on Polymarket, according to Defirate data reported in June.

Riot’s discussions are taking place weeks before the League of Legends World Championship begins in October. No sponsorship agreement with either Kalshi or Polymarket has been announced.

Ethereum developers have tentatively scheduled the Glamsterdam upgrade for activation on Sepolia at 13:53 UTC on Oct. 6, 2026, while another private devnet test remains necessary before the public testnet fork proceeds.

ACDC #186 meeting notes and subsequent reporting from Ethereum protocol researcher Christine D. Kim show that the date remains conditional. Developers had not completed a stable Glamsterdam activation on a private development network when they selected the Sepolia schedule.

The testing plan has since moved forward by another iteration. Kim said on Sept. 11 that attention had turned to Glamsterdam-Devnet-11, which is expected to launch on Monday, Sept. 14. Earlier plans had identified Devnet-10 as the next major test.

No activation dates have been confirmed for the Hoodi testnet or Ethereum mainnet. Developers have discussed a possible December mainnet release, but testing results will determine whether that schedule remains practical.

Ethereum Glamsterdam upgrade date remains tentative

During the Sept. 3 All Core Developers Consensus meeting, participants agreed on Sepolia epoch 351232 for the proposed activation. Kim reported that the corresponding time would be Oct. 6 at 13:53 UTC. The meeting was held before developers had demonstrated stable performance across the private test networks used for Glamsterdam.

Selecting the epoch gives client teams, infrastructure operators and application developers a common planning target. It does not make the activation final. Developers can postpone the fork if the next testing phase uncovers a major fault or if client teams cannot prepare reliable releases.

The caveat remains relevant after Devnet-9 experienced finality problems. According to the meeting material, the network included approximately 1,000 validator nodes, making it the largest Glamsterdam devnet by validator count at that stage.

Finality requires enough validators to agree on the state of the chain. When a test network fails to finalize, developers must determine whether the cause involves client software, validator participation, network configuration or an interaction between separate protocol changes.

Devnet-11 will test fixes before Sepolia

The original plan called for Devnet-10 after faults appeared during previous trials. Kim’s latest update now identifies Devnet-11 as the next test that developers are watching, indicating that the private testing sequence advanced beyond the earlier plan.

A stable Devnet-11 would give Ethereum client teams another environment for testing the combined Glamsterdam specifications. Layer-2 teams, staking providers and other infrastructure operators need working client implementations before they can safely test their systems against the proposed fork.

Client diversity makes the process more complex. Ethereum operates through several independently developed execution and consensus clients, and the upgrade must work across different client combinations. A fault confined to one implementation can still interrupt a test network when affected validators hold enough weight.

The ACDC #186 agenda records requests from Lido and Optimism for at least one stable day before a fork. The agenda listed client fixes and successful interoperability as matters requiring confirmation before Sepolia.

A failed or unstable Devnet-11 would not automatically cancel the Oct. 6 activation. Developers would need to assess the cause and the time required for repairs. A serious issue could lead them to reconsider the date during an All Core Developers meeting.

Consensus and EIP-8037 bugs extended testing

Earlier Glamsterdam trials exposed faults on both sides of Ethereum’s architecture. Ethereum Foundation developer operations engineer Stefan Starflinger reported that Devnet-8 revealed a consensus-layer problem involving blocks that repeated a parent hash.

“You could get the whole network to stop,” Starflinger said while describing the test scenario.

The issue affected the system responsible for block agreement. Devnet-9 then suffered non-finality, prompting engineers to investigate more edge cases across a larger validator set.

On the execution side, Ethereum Foundation researcher Maria Silva reported an implementation problem involving EIP-8037. The proposal changes how Ethereum charges gas for creating new state, including new accounts, contracts and storage entries.

EIP-8037 separates state-creation costs from normal execution costs through a multidimensional gas model. Its published specification says the design seeks to control state growth as Ethereum raises its block gas limit. The proposal remains under peer review.

The discovered issue required execution clients to revise their implementations and led to specification work. As crypto.news reported in its coverage of Glamsterdam’s earlier devnet progress, EIP-8037 has been tested alongside the upgrade’s other protocol changes.

Testing serves a different purpose from approving each proposal individually. Developers must confirm that all selected changes operate together across multiple clients, validator configurations and transaction patterns.

Hoodi and mainnet dates depend on test results

Developers have declined to schedule Glamsterdam on Hoodi while Sepolia remains conditional. Hoodi is expected to serve as the second public testnet stage, giving staking operators and protocol teams another environment that more closely represents mainnet conditions.

Teku developer Enrico del Fante supported waiting before fixing the Hoodi date. During ACDC #186, he cited the recent Devnet-9 problems and favored allowing more testing time after the Sepolia decision.

A December mainnet activation remains a possible target, not a confirmed launch window. Scheduling Sepolia for early October preserves enough calendar time for another public testnet phase and client release preparation, provided testing progresses without lengthy delays.

Developers have not published a mainnet epoch, activation timestamp or final client release schedule. No formal deadline has been announced for deciding whether Oct. 6 remains suitable for Sepolia.

The immediate procedural event is the planned Devnet-11 launch on Sept. 14. Client teams will examine finality, cross-client behavior and the fixes introduced after earlier tests before deciding whether Sepolia can proceed under the current schedule.

U.S. spot Bitcoin ETFs have lost $462.7 million during the September 8–11 trading week, while Ethereum funds have gained $196.9 million and Solana funds have drawn a smaller $9.7 million inflow.

Farside Investors’ Bitcoin ETF data shows that the funds lost money each day from Tuesday through Friday. U.S. markets were closed Monday, September 7, for Labor Day, leaving four sessions in the reporting week. Farside’s separate tables put Ethereum and Solana funds in positive territory, while Hyperliquid funds ended with outflows.

Bitcoin ETF losses peaked on Thursday

Bitcoin funds began Tuesday with $46.6 million in net outflows. The daily loss rose to $120.2 million Wednesday and $282.7 million Thursday before easing to $13.2 million Friday, according to Farside. The four sessions erased part of the $986.7 million that the same funds had gained in the previous trading week.

ARK 21Shares’ ARKB had the largest weekly outflow among individual Bitcoin funds at $234.2 million. Its $164.3 million loss on Thursday accounted for much of that amount. Grayscale’s GBTC followed with $129.1 million in weekly outflows, including $65.5 million on Tuesday and $36.4 million on Thursday.

BlackRock’s IBIT lost a net $52.5 million over the week. After taking in $10.7 million on Tuesday, it posted outflows of $19.5 million on Wednesday, $24.5 million on Thursday, and $19.2 million on Friday. Fidelity’s FBTC finished the week down $50.7 million, while VanEck’s HODL lost $13.1 million.

A few products still drew money. Morgan Stanley’s MSBT gained $19.7 million across the four sessions, with inflows recorded each day. Bitwise’s BITB ended with a $1.9 million gain after its $14.5 million Tuesday inflow was largely offset by a $12.6 million Thursday outflow.

The weekly flow figures describe subscriptions and redemptions in U.S.-listed funds. They do not show whether a particular holder bought or sold Bitcoin directly. In August, crypto.news reported Jane Street held more than $1 billion in spot Bitcoin ETF shares at the end of June, including roughly $828 million in IBIT. The regulatory filing showed an earlier quarter-end position, not the firm’s holdings during the September trading week.

Ethereum ETFs turned positive after Friday’s inflow

Ethereum funds entered Friday with a combined $19.5 million net outflow for the week. Farside recorded a $24.3 million loss Tuesday, a $34.7 million gain Wednesday, and a $29.9 million loss Thursday. Friday’s $216.4 million inflow took the weekly result to a $196.9 million gain.

BlackRock’s ETHA supplied most of Friday’s inflow, adding $148.8 million. The fund finished the week with $139.9 million in net inflows after a $18.6 million outflow on Thursday, which partly offset its gains on Wednesday and Friday. BlackRock’s staked Ethereum fund, ETHB, added $55.1 million for the week, with $22.9 million arriving Wednesday and $18.3 million Friday.

Bitwise’s ETHW gained $29.1 million, all on Friday. VanEck’s ETHV drew $3.7 million the same day. Fidelity’s FETH moved the other way: a $25.2 million outflow on Thursday left it with a $3.9 million weekly loss despite inflows on Tuesday and Friday.

Grayscale’s ETHE lost $17.3 million over the four sessions. Its smaller ETH fund lost $11.8 million after a $24.6 million Tuesday outflow outweighed later gains. Ethereum ETFs brought in $215.3 million in the previous week, based on Farside’s daily totals, making the latest four-session gain slightly smaller despite Friday’s large inflow.

The listed products give U.S. investors a way to trade exposure to Bitcoin or Ethereum through fund shares. Earlier crypto.news covered Morgan Stanley’s holdings in BlackRock’s Bitcoin ETF, which its second-quarter filing put at about 16.5 million shares after a 23% increase. The report also described its exposure to Ether and Solana; those quarter-end holdings cannot be used to identify who drove this week’s ETF flows.

Solana ETFs gained $9.7 million

Solana funds posted their only positive day on Wednesday, when Farside recorded $11.2 million in net inflows. Smaller losses of $0.7 million Tuesday, $0.5 million Thursday, and $0.3 million Friday reduced the weekly total to a $9.7 million gain.

Bitwise’s BSOL accounted for $9.5 million of the weekly inflow. The fund received $11.2 million on Wednesday, then lost $1.4 million on Thursday and $0.3 million on Friday. VanEck’s FSOL added $0.9 million Thursday, and its TSOL fund gained $0.5 million Tuesday. Grayscale’s GSOL recorded a $1.2 million outflow Tuesday and no further net movement in the Farside table.

Hyperliquid funds lost money in three sessions

Hyperliquid ETFs recorded $26.5 million in weekly net outflows. Farside listed a $13 million loss Tuesday, followed by $5.3 million Wednesday and $8.2 million Friday; its table showed no net flow Thursday.

Bitwise’s BHYP accounted for $20.2 million of the weekly loss. It lost $8.1 million Tuesday, $5.3 million Wednesday, and $6.8 million Friday. The 21Shares THYP fund lost $6.3 million across Tuesday and Friday, while Farside recorded no net movement for HYPG during the week.

Japan’s Digital Agency has disclosed a cyberattack on a government network that may have exposed personal information belonging to approximately 246,000 public servants, contractors and other people involved in government work.

The Digital Agency said on Sept. 11 that an investigation into its Government Solution Service, or GSS, found that an outside attacker exploited a vulnerability in a virtual private network device and gained unauthorized access to files containing personal data.

The agency first detected unusual activity on June 25, when a maintenance and operations account was used to access a large number of files stored on its servers. An investigation later established on July 9 that a third party had entered the system through the VPN vulnerability.

Officials disabled the affected maintenance account that day and blocked communications between the compromised network equipment and external systems to prevent further unauthorized access. A subsequent investigation carried out with outside security specialists found that some files may have been taken from the network.

Japan data breach may have exposed 246,000 records

The potentially compromised information belongs to employees of government ministries and agencies using GSS, public servants who worked with those organizations, and businesses and individuals involved in their operations.

Around 189,000 records concern employees of GSS member organizations and other public servants involved in their work, including employees of incorporated administrative agencies. Another roughly 57,000 records relate to businesses and individuals that worked with GSS organizations.

The affected files contained approximately 236,000 names and 231,000 email addresses. Roughly 94,000 phone numbers and about 1,000 addresses were potentially exposed, with some records containing more than one type of personal information.

Japan’s Digital Agency said the affected data did not contain My Number identification numbers, bank account details or pension numbers. It has confirmed that the personal information of members of the general public was not included in the potentially leaked files.

No misuse of the affected personal information has been identified so far, according to the agency. Officials are working to identify the people whose information may have been compromised and plan to contact them individually.

The agency warned that exposed contact details could potentially be used for impersonation or phishing attempts. It advised affected people not to open unexpected links or attachments or provide passwords, authentication information and credit card details in response to suspicious emails, calls or text messages claiming to come from government bodies.

VPN vulnerability gave attacker access to government systems

The intrusion involved a vulnerability in network equipment used for VPN access, while the large-scale file activity was carried out through an account belonging to maintenance and operations personnel.

The Digital Agency has not identified the attacker publicly or disclosed whether the intrusion was financially motivated. Its statement did not attribute the incident to a ransomware group, state-backed actor or other known hacking organization.

Following the investigation, the agency said it would review how vulnerabilities are managed and improve methods used for external connections to its systems.

The incident emerged during a period of elevated cybercrime activity in Japan. National Police Agency figures cited in local reporting showed the country recorded 123 ransomware attacks during the first half of 2026, the highest total for any six-month period since authorities began tracking the figure.

Security incidents involving compromised access and infrastructure have remained a concern outside government systems as well. A July crypto security report previously covered by crypto.news found that 212 verified crypto incidents caused $1.1 billion in losses during the first half of 2026, with 74% of stolen funds linked to operational security failures instead of exploited smart contract code.

A separate CoinGecko security study published in August calculated that crypto platforms lost $3.63 billion across 245 documented incidents between January 2025 and July 2026. The 10 largest attacks accounted for more than 72.5% of the total amount stolen during that period.

Japan has faced major crypto-linked cyberattacks

Japan has previously dealt with large cyber thefts targeting its cryptocurrency sector, including the attack on DMM Bitcoin that ultimately forced the exchange to wind down its operations.

The DMM Bitcoin breach resulted in the theft of more than 4,500 Bitcoin worth roughly $307 million at the time. Japanese authorities and the FBI later connected the operation to TraderTraitor, a North Korean-linked group associated with other cryptocurrency thefts.

Investigators found that the DMM Bitcoin operation began through social engineering targeting an employee at Ginco, a Japanese cryptocurrency wallet software company that provided services to the exchange. An attacker posing as a recruiter sent the employee a malicious Python script during what appeared to be a pre-employment test.

Access obtained through Ginco was later used to manipulate a legitimate DMM Bitcoin transaction request, according to authorities. The stolen Bitcoin was subsequently traced to wallets controlled by the attackers.

North Korean-linked groups have continued targeting cryptocurrency infrastructure outside Japan. Bybit said in August that its security systems blocked more than 30,000 suspicious withdrawals during the first half of 2026, preventing more than $700 million in potential user losses after the exchange suffered a $1.46 billion theft in February 2025.

The exchange said it had expanded continuous onchain monitoring following the attack, while its security teams processed more than 100,000 alerts with AI assistance during the first half of this year. Bybit’s monitoring systems identified 10 security incidents affecting listed token projects during the period without losses to the exchange.

Other recent breaches have centered on personal information rather than direct theft of digital assets. Israeli crypto broker Bits of Gold began investigating a customer data breach in August after unauthorized access to a third-party system potentially exposed names, identification numbers, email addresses, phone numbers, IP addresses and some banking information.

Bits of Gold said cryptocurrency, customer funds, passwords, identification document scans and full payment card details were not compromised in that incident. The company traced the exposure to third-party software affected by a larger breach and said it began investigating after receiving information about the incident.

In September 2026, Bitcoin (BTC) is fluctuating near the $78,000 mark. Recent market data shows BTC trading at approximately $77,300, with the market keeping a close watch on the Federal Reserve’s upcoming interest rate decision and its potential impact on the cryptocurrency sector. 

Since the start of September, Bitcoin has experienced a notable, rapid rebound—hitting a new high since May—before the rally slowed, causing the price to retreat and consolidate below the $80,000 level. The market is currently characterized by a tug-of-war between bulls and bears. On one hand, the recent rebound has revitalized market confidence; on the other, the Fed’s interest rate decision on September 16 and the impending release of US inflation data could still trigger fresh volatility in the crypto market.

However, for the many holders who do not intend to trade frequently, the question is more straightforward: if BTC fails to resume its upward momentum in the short term, are there ways—beyond simply waiting for price appreciation—to enhance asset utilization efficiency and explore avenues for generating consistent returns?

CPI and the Federal Reserve have become key variables for short-term market trends.

The market is currently awaiting the latest US CPI data, preferring to wait for new macroeconomic figures to confirm the direction for the next phase. Consequently, for long-term BTC investors, repeatedly chasing rallies and panic-selling in the short term is not necessarily the optimal strategy. Traditional BTC holders are accustomed to a straightforward investment logic: buy, hold, and wait for the price to rise. However, this approach entails inconsistent returns, high market volatility risks, and the need for significant time and effort to monitor the market. As a result, BTC holders are shifting their focus from mere price appreciation to asset efficiency; the mining services offered by FTMINING enable BTC holders to engage in new yield-generating models while retaining their digital assets.

Mining services provided by FTMINING

This model involves participating in digital asset mining through remote computing power. Users do not need to purchase mining rigs, deploy hardware, or maintain mining facilities themselves; instead, they simply select a suitable computing power plan. Professional mining facilities handle equipment operation, maintenance, and the actual mining process, while users receive mining returns based on the computing power they have purchased.

The platform utilizes renewable or clean energy sources—such as hydropower, wind power, and solar power—to improve energy efficiency, lower operating costs, and reduce carbon emissions. Compared to the traditional model of building and managing one’s own mining facility, cloud mining offers a lower barrier to entry, ease of use, and no need for equipment maintenance, making it accessible even to beginners.

How should BTC holders use FTMINING?

Step 1: Visit the official website: https://ftmining.com

New users receive a $15 sign-up bonus, plus a $0.75 daily login bonus.

Step 2: Diverse digital asset management experience

The platform supports BTC, ETH, LTC, USDT, USDC, XRP, SOL, DOGE, and BCH, eliminating the need for cumbersome currency conversions and making deposits and withdrawals more convenient.

Step 3: Choose the best contract plan

FTMINING offers a variety of contracts to suit different budgets and goals. Whether you are seeking short-term gains or long-term returns, there is a suitable option for you. (Please visit the official website for more contract details.)

Step 4: Manage the mining process via the platform.

Simply register online and select your hash rate to start mining; once the contract is activated, earnings are automatically deposited into your account, and you can track your returns in real-time on your mobile phone—significantly lowering the barrier to entry for mining.

Reasons to choose FTMINING

Corporate Credibility: FTMINING is an innovative platform specializing in digital asset management and cloud computing services. It operates within UK and EU regulatory frameworks, adhering to principles of compliance, security, and transparency, while undergoing regular financial and security audits by third-party institutions.

Technical Capabilities: The platform utilizes the latest generation of mining hardware to ensure stable hash rate output. Even during periods of global hash rate fluctuation, my earnings have remained relatively stable, demonstrating the platform’s technical reliability.

Fund Security: The platform employs multiple security mechanisms—including bank-grade firewalls, cloud security certifications, multi-signature cold wallets, and asset segregation systems—to provide multi-layered protection for user funds.

From “waiting for a price rise” to “exploring yield”—the value proposition of BTC assets is shifting.

For long-term BTC investors, the traditional approach often involves waiting for market appreciation to generate returns. As the digital asset market evolves, investors are increasingly looking for ways to unlock additional revenue streams alongside their long-term holdings. FTMINING’s cloud mining services offer a unique way to participate in the ecosystem—distinct from simply buying and selling BTC. By leveraging remote computing power for mining operations, investors can explore diversified income models and enhance the value of their idle assets.

Conclusion: Long-term strategies require greater focus during periods of sideways movement.

With BTC fluctuating around $78,000, the market awaits the next directional move. For BTC holders, rather than obsessing over the next candlestick on the chart, it is more productive to focus on a long-term perspective: how to maximize the value of their holdings? FTMINING cloud mining offers a clear solution—enabling holders to participate in mining while retaining their BTC, thereby improving the utilization efficiency of idle digital assets. By shifting from merely waiting for price appreciation to exploring mining-based returns, BTC holders can adopt a more proactive approach to asset management with FTMINING.

Official Website:https://ftmining.com

Customer Support Email: [email protected]

UniCredit has begun exploring an expansion of its digital asset business that could give clients access to crypto custody, brokerage, tokenized investments and stablecoin services.

People familiar with the plans said the Italian bank is selecting a technology provider that could supply the infrastructure needed to hold digital assets and support their purchase and sale, although discussions remain at an early stage and no final decision has been made.

The work could take UniCredit beyond the individual crypto-linked products it has offered professional investors and give the bank technology for a larger set of digital asset services.

Potential uses under consideration include tokenized investment products and fixed-income securities, according to the people. UniCredit is examining how clients could use stablecoins and gain exposure to cryptocurrencies through the infrastructure.

A UniCredit spokesperson declined to comment.

UniCredit considers crypto custody and brokerage infrastructure

The technology provider under consideration would give UniCredit the systems required to custody digital assets and facilitate trading, creating infrastructure that could support several products rather than a single investment offering.

Specific services have yet to be decided, and the bank could change or abandon parts of the plan while discussions continue.

UniCredit has already tested crypto exposure through traditional investment products. In July 2025, crypto.news previously reported that the bank had introduced a structured product linked to IBIT for professional clients in Italy.

The five-year, dollar-denominated investment certificate was tied to BlackRock’s iShares Bitcoin Trust ETF and offered full capital protection at maturity. It allowed eligible clients to participate in Bitcoin-linked returns without holding the cryptocurrency directly.

UniCredit has so far concentrated its digital asset activity on professional investors and corporate clients. Building custody and brokerage technology could give the lender another route for offering digital assets through its existing banking operations.

The bank has taken a similar approach to blockchain-based securities. Late last year, UniCredit issued Italy’s first tokenized minibond on a public blockchain, using blockchain infrastructure to issue and transfer a traditional financial instrument.

Its latest discussions cover tokenized fixed-income securities as one of the possible areas where the new infrastructure could be used.

Stablecoins form another part of UniCredit’s plans

Stablecoins are already part of UniCredit’s digital asset strategy through Qivalis, the Amsterdam-based company formed by European banks to develop a euro-denominated stablecoin.

The project initially brought together 10 banks, including UniCredit, BNP Paribas, ING, Banca Sella, KBC, DekaBank, Danske Bank, SEB, CaixaBank and Raiffeisen Bank International. Qivalis is targeting the second half of 2026 for the token’s launch, subject to regulatory approval. 

Its membership has since expanded sharply. In May, Qivalis expanded to 37 banks across 15 European countries after adding 25 institutions, including ABN AMRO, Rabobank, Nordea and Intesa Sanpaolo.

Qivalis plans to operate as an electronic money institution under supervision from the Dutch central bank. The group is seeking to issue a MiCA-compliant token backed 1:1 with euros, with its first uses centered on institutional settlement, treasury operations and tokenized assets.

In April, the banking group selected Fireblocks for infrastructure supporting the planned token. Fireblocks is providing tokenization technology, wallet infrastructure and lifecycle management tools, alongside systems for identity verification and sanctions screening.

UniCredit’s separate technology search could cover stablecoin use by its own clients, according to the people familiar with the bank’s plans. Details on how those services would operate or whether they would connect with Qivalis have not been finalized.

MiCA gives European banks a framework for crypto services

The plans are being considered as European banks increase their work with crypto assets, tokenized securities and blockchain-based settlement under the European Union’s Markets in Crypto-Assets regulation.

MiCA established a common regulatory framework across the bloc for crypto asset service providers and stablecoin issuers, replacing a system where requirements differed between national markets.

Several banks have since moved into areas such as custody, trading and stablecoin infrastructure. Italy’s Banca Sella, another Qivalis member, received Bank of Italy approval to provide crypto custody and transfer services through MiCA’s notification route for credit institutions.

The relationship between banks and stablecoin issuers has brought its own regulatory questions. UniCredit deputy vice chair Elena Carletti, who chairs the bank’s board risk committee, warned in May that Europe could face difficulties responding to stress involving crypto-linked bank deposits.

Carletti cited the 2023 collapse of Silicon Valley Bank, when Circle disclosed that $3.3 billion of reserves backing USDC were held at the failed lender. She said European authorities could have fewer options to provide similar protection because EU deposit insurance is capped at €100,000.

Her comments came while UniCredit was participating in the Qivalis stablecoin project and European lenders were preparing regulated blockchain-based payment and settlement services under MiCA.

Qivalis’ planned token remains scheduled for the second half of 2026, subject to authorization from De Nederlandsche Bank.

UniCredit builds out digital capital markets business

UniCredit has been developing its digital capital markets operations outside cryptocurrency products as well.

This week, the bank announced that it had acquired a minority stake in VC Trade, a German platform focused on lending markets. The investment is intended to expand UniCredit’s digital capital markets capabilities.

Its technology search would add another piece to that work by creating infrastructure capable of holding and trading digital assets directly.

The bank has not disclosed which technology providers are being considered, how much it could spend on the project or when a provider might be selected. Decisions on whether UniCredit will ultimately offer crypto brokerage, custody, stablecoin services or tokenized securities through the system remain under discussion.