Italy’s largest bank, Intesa Sanpaolo, has made headlines by executing its first direct bitcoin settlement, cementing its place as a pioneer in the Italian financial sector.
On January 13, 2025, the bank conducted a proprietary bitcoin transaction valued at €1 million, securing 11 bitcoin (BTC). The historic transaction was disclosed via an internal memo, highlighting Intesa’s progressive steps into the digital asset landscape. The development follows the bank’s launch of a cryptocurrency trading desk in 2023 and its entry into spot trading activities.
The transaction gained attention after being reported by La Stampa, signaling a shift in Italy’s traditionally conservative banking industry. Although Intesa confirmed the transaction in response to media inquiries sparked by a leaked email, it refrained from elaborating on its strategic intent.
This bold move underscores the growing acceptance of digital currencies within established financial institutions. Intesa Sanpaolo’s engagement with cryptocurrency positions it as a trailblazer among Italian banks, potentially paving the way for broader institutional adoption in the future.
As of January 2025, Intesa Sanpaolo manages assets worth €1.4 trillion, reaffirming its position as a financial powerhouse. Established in 2007 through the merger of Banca Intesa and Sanpaolo IMI, the bank’s roots trace back to the Istituto Bancario San Paolo di Torino, founded in 1563. With over 460 years of history, Intesa Sanpaolo continues to adapt and thrive in the ever-evolving financial world.
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