Can Pac Swire
The message from Niccolo Bardoscia, the head of digital asset trading and investment at Intesa, was released on the online platform 4chan. Italian media also reported the purchase. Intesa's CEO Carlo Messina stated that this purchase is a trial venture. The sum of €1 million is insignificant for the bank, considering it holds €100 billion in securities within its portfolio, Messina stated.
In 2023, Intesa established a dedicated department for cryptocurrency trading in its corporate and investment division. In November 2024, Intesa's cryptodesk secured the required internal approvals and established technical systems for immediate purchasing of cryptocurrencies. Before this bitcoin purchase, Intesa exclusively dealt in cryptocurrency options, futures, and exchange-traded funds.
Intesa's purchase illustrates the broader movement of major financial companies venturing into cryptocurrencies, according to Bloomberg. At the close of December 2024, the European Union sanctioned the initial standard regulations regarding crypto-assets, which are anticipated to facilitate greater acceptance of digital assets by financial firms, the newspaper writes.
source: bloomberg.com
In 2023, Intesa established a dedicated department for cryptocurrency trading in its corporate and investment division. In November 2024, Intesa's cryptodesk secured the required internal approvals and established technical systems for immediate purchasing of cryptocurrencies. Before this bitcoin purchase, Intesa exclusively dealt in cryptocurrency options, futures, and exchange-traded funds.
Intesa's purchase illustrates the broader movement of major financial companies venturing into cryptocurrencies, according to Bloomberg. At the close of December 2024, the European Union sanctioned the initial standard regulations regarding crypto-assets, which are anticipated to facilitate greater acceptance of digital assets by financial firms, the newspaper writes.
source: bloomberg.com
