Banca Sella Becomes First Italian Bank to Offer Crypto Services Under MiCA
Banca Sella gets green light to provide crypto services to customers in Italian first
Image: Coindesk
Banca Sella has received approval from the Bank of Italy to provide crypto services, making it the first Italian bank to do so under the European Union's Markets in Crypto-Assets (MiCA) regulation. The bank plans to launch a platform for digital asset custody and transfers for corporate clients later this year.
- 01Banca Sella is the first Italian lender to obtain a crypto services license from the Bank of Italy under MiCA.
- 02The bank will offer digital asset custody and transfer services to selected corporate clients starting later this year.
- 03Banca Sella is a founding member of the Qivalis initiative aimed at issuing a euro-denominated stablecoin.
- 04The bank's infrastructure for crypto services involves a partnership with Chainalysis and an internal pilot with Fireblocks.
- 05Banca Sella manages assets worth €50 billion (approximately $54 billion) and serves over 3.1 million customers.
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Banca Sella has officially become the first Italian bank to receive a crypto services license from the Bank of Italy, allowing it to operate under the European Union's Markets in Crypto-Assets (MiCA) regulation. This approval enables the bank to launch a dedicated platform for the custody, transfer, and receipt of digital assets aimed at select corporate clients later this year. With approximately €50 billion (around $54 billion) in assets under management and over 3.1 million customers, Banca Sella joins about 20 other major European banks already providing crypto services. The bank is also a founding member of the Qivalis initiative, which aims to issue a euro-denominated stablecoin, and is involved in EU tokenization projects like Pontes and Appia. Andrea Tessera, the bank's managing director of digital banking, emphasized that the evolution towards instant and programmable payment models is transforming financial infrastructures both in Europe and globally.
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The approval allows Banca Sella to expand its services into the growing crypto market, potentially attracting more corporate clients and enhancing its competitive position in the financial sector.
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