Banca Sella Launches Pilot for Digital Asset Storage in Collaboration with Fireblocks

Banca Sella Holding SpA, an Italian banking group known for its forward-thinking approach to digital banking, has initiated an internal pilot project to test a new digital asset custody service, including support for stablecoins. The project is being developed in partnership with Fireblocks, a leading provider of digital asset security solutions, according to Azernews.

Currently limited to select specialists within the bank, the service may eventually be rolled out to a broader customer base. The pilot marks a strategic step in Banca Sella’s broader effort to integrate digital assets into its operations.

While the bank is exploring custody services, it is not yet planning to offer cryptocurrency trading—such as for bitcoin—at this stage. Future expansion will depend on the results of the pilot, with decisions expected by mid-summer.

This move aligns with a broader trend across Europe, where traditional financial institutions are gradually embracing digital assets. Bloomberg reports that the European Union’s forthcoming crypto regulatory framework, coupled with more favorable rules in the U.S., is prompting banks that were once hesitant to enter the space.

Though Banca Sella is in the early stages of its digital asset journey, Italy’s largest banking group, Intesa Sanpaolo SpA, has already made strides. In January, Intesa acquired bitcoin on the spot market and is preparing to launch its own digital asset trading unit, signaling growing institutional acceptance of crypto.

Banca Sella, which operates Hype—a digital bank with over one million users—has long been recognized for its innovation. Adding digital asset custody to its offerings could enhance customer security and expand its suite of financial solutions.

As the pilot progresses and the EU finalizes its regulatory framework, other banks may follow suit, accelerating the integration of blockchain-based services into traditional finance. In this context, Banca Sella’s focus on stablecoins—cryptocurrencies pegged to fiat currencies—may prove especially strategic, offering the benefits of blockchain while avoiding the volatility of assets like bitcoin.

With clearer regulatory guidance emerging in both Europe and the U.S., digital asset custody and trading may soon become mainstream services in banking. This shift could also pave the way for greater adoption of decentralized finance (DeFi), increasingly seen as a viable complement to the traditional financial system.

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