[ B U Y - S I D E C O V E R | C H R I S T O P H H O C K ]
Given the fact that we have a very strong footprint in real estate , this might become an interesting topic for us .”
At TradeTech earlier in November , Hock told an audience that Union Investment would be ready to trade native crypto by the middle of next year , confirming that he was was conducting in-depth partnership talks with custody banks on the potential launch of a crypto custody solution . He also confirmed that Union had been exploring digital assets for the past four years . According to him , all institutions should be laying the groundwork for a token economy now to avoid missing the boat through delayed implementation later down the line when serious client demand develops .
“ If you start planning at the time when there is client demand picking up you ' re probably late by one-to-two years . It ’ s important to do the planning in a proactive way with the anticipation that the demand might come up in the coming years ,” he says . “ You have to start doing the prep work now and take a visionary view about the developments in the token economy . This means not only looking at what the needs are of clients today , but also from fund where it can trade one Bitcoin exchange traded note ( ETN ). However , when it comes to whether Union has plans to expand that scope with more funds and delta one products , Hock holds his cards close to his chest . “ Possibly ,” he says with a wry smile .
“ There are some add-ons to existing asset classes we could potentially keep an eye on . One is crypto and another one is non-fungible tokens ( NFTs ). I don ' t see us trading digital pictures , but as a part of NFTs you might be able to trade also real estate somewhere in the secondary market in the future .
“ The spirit of regulation has to point in the same direction . I think at the end of the day regulators know about the importance of an equal level playing field .”
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