UBS Becomes First Swiss Bank to Launch Digital Gold Trading
by Fintechnews Switzerland December 6, 2021Investment bank UBS has become the first Swiss bank to roll out a digital gold trading solution for local customers on its mobile banking app.
The trading solution will be made available for amounts as low as US$5, Reuters reported.
While the digital gold trading feature is available to all Swiss customers, it may reportedly be expanded to international customers in the future.
Amounts that can be traded start as small as 0.1 grams up to 2 kilograms. Meanwhile, UBS will be charging fees from 1.4% for transactions that are less than CHF 25,000, to 0.9% for large transactions.
Currently, UBS has retail customers only in Switzerland. It has been trying to attract private customers outside of its super rich target client base, by tapping into the mass affluent market in the US, the Reuters report said.
Featured image: UBS
