UBS has no role to play in algorithm-only crypto world-CEO

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“If you would go to any digital application of real assets, like money, we can help you and that is what we’re creating,” he told a student conference on financial education in Milan.

UBS offers clients the “tokenisation” of gold, he said.

“You can buy crypto gold through UBS … in two minutes you have the gold on your App but we make sure we have the gold in our safe.”

However, “if you really want to go into the crypto world where it’s literally only determined through algorithms, that’s not where, at least for the moment, I see a role for us other than advising you not to do it.”