Banca Sella Set to Become First Italian Bank to Offer Crypto Services Under MiCA

TLDR

• Banca Sella completed its crypto notification process with the Bank of Italy.
• The bank plans to launch crypto custody and transfer services by end-2026.
• Banca Sella is set to become Italy’s first bank to offer crypto services.
• The initial crypto services will target selected client categories.
• Banca Sella is a founding member of the Qivalis euro stablecoin consortium.

Banca Sella has completed the regulatory notification process with the Bank of Italy, placing it on course to become the first Italian bank to offer cryptocurrency-related services under the European Union’s Markets in Crypto-Assets Regulation. The bank said it plans to introduce digital asset custody and transfer services before the end of 2026, starting with selected client categories.

The move places Banca Sella among the first traditional banking groups in Italy to formally enter regulated crypto services. Under MiCA, credit institutions can provide certain crypto-asset services after notifying their national regulator in advance, rather than applying through the full authorization route required for non-bank crypto service providers.

Banca Sella said the initial offer will focus on custody, receipt, and transfer of digital assets. The bank did not announce plans for crypto trading services. Its current approach appears directed toward corporate and institutional clients, although the bank said the services will begin with specific target groups rather than the wider customer base.

Banca Sella Advances Crypto Custody Plans

Andrea Tessera, Managing Director of Digital Banking at Banca Sella, said the launch of custody and transfer services for crypto assets forms part of broader changes in European payment systems. He referred to instant, interoperable, and programmable payment models, as well as tokenized money and assets, as areas reshaping financial infrastructure.

Banca Sella has worked on digital asset infrastructure for several years. The bank joined the Bank of Italy’s Fintech Milano Hub experimentation program in 2022, a project designed to support innovation in financial services. In July 2025, it also began an internal pilot using Fireblocks technology to test crypto custody services with a limited group of employees.

That pilot was focused on custody and included digital assets such as stablecoins. It did not include buying or selling crypto assets. At the time, the bank was assessing whether the service could later be extended beyond internal testing. Banca Sella serves about 1.4 million customers and manages more than €66 billion in assets under custody.

MiCA Creates a Route for Bank Crypto Services

The European Union’s MiCA framework has created a uniform regulatory system for crypto-asset services across member states. For banks, the regulation allows entry into certain services through a notification process with the relevant national authority. In Italy, that authority is the Bank of Italy.

Banca Sella’s completed notification places it ahead of other Italian banks that may still be assessing the requirements for crypto custody, transfers, and related services. The bank has not stated whether future services will include broader digital asset products beyond custody and transfers.

The announcement also connects Banca Sella’s crypto strategy with wider European banking projects. The bank is a founding member of Qivalis, a consortium of 37 European banks working on a euro-denominated stablecoin. Members include ING, UniCredit, CaixaBank, KBC, Danske Bank, DekaBank, SEB, and Raiffeisen Bank International.

Qivalis is based in Amsterdam and is led by Jan-Oliver Sell, former chief executive of Coinbase Germany. The consortium is developing a MiCA-compliant euro stablecoin, with a planned launch in the second half of 2026, subject to approval as an electronic money institution by the Dutch central bank.

Italian Banks Increase Digital Asset Activity

Other Italian banks are also expanding their exposure to digital assets. Intesa Sanpaolo opened a spot Bitcoin desk in January 2025 and later reported holdings in Bitcoin, Ethereum, Solana, and Ripple-linked assets. UniCredit has examined structured products linked to spot Bitcoin exchange-traded funds and is also part of the Qivalis consortium.

Banca Sella has also referred to tokenization work linked to the Eurosystem, including the Pontes and Appia projects connected to the European Central Bank. These efforts are part of broader work across Europe to test tokenized settlement, digital money, and blockchain-based financial infrastructure.

The development comes as European banks operate under a defined crypto rulebook, while the United States continues to debate federal crypto legislation. The CLARITY Act remains unresolved, and many U.S. banks have not moved into large-scale crypto custody or stablecoin services.

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