Banca Sella has cleared the final regulatory hurdle to become the first Italian bank to offer crypto services. The bank completed its notification process with the Bank of Italy, which allows it to provide crypto custody and transfer services. The offering is expected to roll out later this year to a select group of customers.
What the bank is offering
The services cover two areas: custody of digital assets and the ability to transfer them. That means clients will be able to store their crypto with the bank and move it between wallets or to other accounts. It's a step beyond what most traditional Italian lenders have been willing to touch.
Banca Sella is breaking new ground. No other Italian bank has gone through the Bank of Italy's notification process to offer crypto services directly. The move signals that at least one established institution sees a business case in catering to crypto demand — a demand that's been met mostly by specialized exchanges and fintechs until now.
The regulatory path
The Bank of Italy requires banks to notify it before offering crypto-related services. Banca Sella's completion of that process means the regulator has no objections to the plan. The notification isn't a license per se, but it's the formal green light under Italy's current framework. The bank is now free to proceed with its launch.
Timeline and rollout
The services are scheduled to go live in 2026 for selected customer groups. Banca Sella hasn't specified which customers will get early access or what the fees will look like. The phased approach is typical for new regulated offerings — start small, iron out kinks, then expand.
What comes next is the actual launch. Banca Sella will need to integrate the custody and transfer services into its existing banking infrastructure. If all goes to plan, the first Italian bank customers could be holding and moving crypto through their bank accounts before the end of the year.
