Banca Sella gets MiCA clearance for crypto services in Italy

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Sella announces MiCA approval. Source: Sella The MiCA approval is not Banca Sella’s first connection to crypto. Banca Sella also said in the announcement that its MiCA approval follows its participation in a distributed ledger technology pilot promoted by the Bank of Italy’s Fintech Milano Hub in 2022. Banca Sella said it has also created an internal DLT and digital assets team, and added that it's also among the founders of Qivalis, a consortium of 37 European banks that plans to issue a euro-denominated stablecoin. Related: Bank of Italy chief says banks, not stablecoins, anchor digital money The bank also previously had crypto exposure through Hype, its digital banking brand, which integrated Bitcoin wallet services through Italian crypto firm Conio. Conio said its first banking integration became operational in March 2020 through a partnership with Hype, Banca Sella Group’s digital banking brand. According to Conio, Hype went live in 2020 and allowed retail customers to buy, sell, send and receive digital assets. Hype’s current website advertises a Bitcoin wallet that lets adult customers create a wallet and buy, sell or exchange Bitcoin directly from the Hype app. In 2024, Reuters reported that Banca Sella had around 1.3 million customers, while Hype served around 1.7 million customers. Magazine: 50K investors fight Korean crypto tax, Singapore cancels Bsquared: Asia Express More on the subject

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