Banca Sella Begins Internal Trial for Stablecoin Custody Solutions
Banca Sella has initiated an internal trial allowing select employees to hold cryptocurrencies, including stablecoins, using Fireblocks' custody software. The trial will last until the end of summer, after which a decision will be made regarding access for the bank's 1.4 million customers who manage over €66 billion ($77.5 billion) in assets.
Key details include:
- The trial focuses solely on custody; trading of volatile tokens is not planned.
- European regulations are encouraging banks to explore crypto offerings.
- Intesa Sanpaolo opened a spot bitcoin desk in January and invested €1 million in bitcoin.
- UniCredit plans a capital-protected note linked to BlackRock’s spot bitcoin ETF IBIT.
- Société Générale is launching a dollar-backed stablecoin after introducing a euro-backed stablecoin.