Banca Sella has secured authorization from the Bank of Italy to offer cryptocurrency custody and transfer services, becoming the first Italian bank to complete the notification process under the EU's Markets in Crypto-Assets Regulation (MiCA). The Biella-based institution completed its regulatory filing on May 27, 2026, and plans to launch digital asset services for corporate and institutional clients before year-end.
Regulatory Pathway Creates Opportunities for Banking Professionals
Under MiCA, established credit institutions can offer certain crypto services through a streamlined notification process with their national regulator, avoiding the full licensing requirements imposed on non-bank entities. Banca Sella filed its notification 40 days in advance as required and received clearance without undergoing a complete licensing review.
The bank's initial service offering will focus on custody, receipt, and transfer of digital assets rather than trading. This targeted approach serves corporate and institutional clients among Banca Sella's 1.4 million customer base, which collectively holds over €66 billion in assets under custody.
Multi-Year Investment in Blockchain Infrastructure and Talent
The authorization reflects sustained internal investment in blockchain capabilities. Banca Sella established a dedicated DLT and Digital Assets team and participated in the Bank of Italy's Fintech Milano Hub pilot program on distributed ledger technology starting in 2022.
In July 2025, the bank conducted an internal crypto custody pilot using Fireblocks infrastructure, initially testing with employees holding digital assets including stablecoins. The pilot provided practical experience for staff while executives evaluated broader service deployment.
Beyond custody services, Banca Sella serves as a founding member of Qivalis, a consortium of 37 European banks developing a MiCA-compliant euro-denominated stablecoin. The Amsterdam-based initiative—led by former Coinbase Germany CEO Jan-Oliver Sell—includes major institutions like ING, UniCredit, CaixaBank, and Raiffeisen Bank International. Qivalis targets a second-half 2026 launch pending e-money institution licensing from Dutch authorities.
Implications for Web3 Professionals
The authorization highlights expanding career opportunities at the intersection of traditional banking and digital assets. While U.S. banks largely lack regulatory frameworks for offering crypto services at scale, the EU now has 17 authorized electronic money token issuers across 10 countries with 25 regulated stablecoins approved under MiCA.
For blockchain professionals, traditional financial institutions like Banca Sella represent growing employers seeking expertise in custody infrastructure, regulatory compliance, and digital asset operations. The trend extends across Italy's banking sector, with Intesa Sanpaolo holding over €200 million in Bitcoin after opening a spot trading desk in January 2025, and UniCredit exploring Bitcoin-linked investment products while participating in stablecoin development.
