Banca Sella Tests Cryptocurrency Custody Services With Fireblocks Technology

Generated by AI AgentCoin World
Wednesday, Jul 2, 2025 9:03 am ET1min read
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Banca Sella, a leading Italian banking group recognized for its technological advancements, has embarked on an internal pilot program to test cryptocurrency custody services. This initiative, which will run until the end of the summer, involves a select group of employees using Fireblocks’ custody technology to securely store digital assets, with a particular focus on stablecoins. The pilot program does not include trading functionalities, emphasizing the bank's cautious approach to integrating digital assets into its services.

The decision to launch this pilot comes as European banks increasingly explore the crypto space, driven by clearer regulatory frameworks. Banca Sella's move is part of a broader trend where traditional

financial institutions
are looking to incorporate digital assets into their offerings. The bank aims to evaluate the pilot program's success by the end of the summer and decide whether to extend the service to its 1.4 million customers, who collectively hold over €66 billion in assets under custody.

This initiative by Banca Sella aligns with similar efforts by other European banks. For example, Italy’s largest bank, Intesa Sanpaolo, recently opened a spot

bitcoin
desk and made a €1 million investment in cryptocurrency. UniCredit is planning a capital-protected note linked to BlackRock’s spot bitcoin ETF, while Société Générale is launching a dollar-backed stablecoin. These developments indicate the growing acceptance of digital assets within the banking sector.

The success of the pilot program could lead Banca Sella to offer stablecoin custody services to a wider audience, potentially transforming how traditional banks interact with digital currencies. By focusing on custody rather than trading, Banca Sella is ensuring that the service is secure and compliant with regulatory standards before expanding its reach. This strategy reflects the bank’s commitment to innovation while prioritizing the safety and security of its customers’ assets.