Italian lender clears regulatory hurdle to offer bitcoin and digital asset services
Banca Sella has become the first Italian bank to receive authorization to offer bitcoin and other cryptocurrency services under the European Union’s Markets in Crypto-Assets Regulation, the bank announced on May 27, 2026.
The €34 billion Biella-based lender completed a notification process with the Bank of Italy and met a 40-day advance filing requirement, clearing a lighter regulatory pathway available to credit institutions under MiCA. The approval allows Banca Sella to offer custody, receipt, and transfer services for digital assets to corporate and institutional clients.
“To be the first Italian bank able to offer custody and transfer services for crypto assets is a major step, in line with the broader European transition towards new digital models,” said Andrea Tessera, Managing Director of Digital Banking at Banca Sella.
Under MiCA, credit institutions can enter certain crypto-asset services through notification with their national regulator, a lighter regulatory path than full licensing required for non-bank entities. Banca Sella plans to launch its custody and transfer services before the end of 2026.
The bank tested its infrastructure in July 2025 through an internal pilot using Fireblocks, a custody infrastructure provider. The pilot covered custody operations with a small group of employees holding digital assets including stablecoins. Banca Sella serves 1.4 million customers and holds €66 billion in assets under custody.
Broader Italian banking shift toward crypto
Banca Sella’s authorization reflects a wider institutional embrace of cryptocurrency services across Italian banking. Intesa Sanpaolo, Italy’s largest bank, opened a spot Bitcoin desk in January 2025 and now holds over €200 million in Bitcoin and other crypto assets. UniCredit has explored capital-protected notes linked to BlackRock’s spot Bitcoin ETF.
The authorization also positions Banca Sella within a broader European infrastructure push. The bank is part of Qivalis, a consortium of 37 European banks headquartered in Amsterdam that is building a MiCA-compliant euro-denominated stablecoin designed to enable near-instant cross-border payments with programmable settlement. Qivalis, led by Jan-Oliver Sell, former Coinbase Germany CEO, targets a launch in the second half of 2026 pending an e-money institution license from Dutch regulators.
Qivalis’s founding members include Intesa Sanpaolo, UniCredit, ING, CaixaBank, KBC, Danske Bank, DekaBank, SEB, and Raiffeisen Bank International.
MiCA adoption accelerates across EU
The EU regulatory framework has expanded rapidly since MiCA’s implementation. The bloc now has 17 authorized electronic money token issuers across 10 countries, with 25 regulated stablecoins approved under MiCA.
Banca Sella’s 2026 authorization builds on earlier groundwork. The bank participated in the Bank of Italy’s Fintech Milano Hub pilot program on distributed ledger technology in 2022, positioning it ahead of peers in crypto infrastructure readiness.
Scope and timeline
Banca Sella’s initial offering focuses on institutional and corporate clients. The bank plans to launch custody and transfer services before the end of 2026. The authorization does not include trading services at launch.
