Intesa Sanpaolo, Italy’s largest bank, is solidifying its position in the digital asset market by expanding to include cryptocurrency spot trading.
Intesa Sanpaolo's Strategic Move into Crypto Spot Trading
Already an active participant in the crypto asset space, Intesa Sanpaolo’s corporate and investment banking unit adds spot trading to its derivatives, options, and ETF activities. The initiative is led by Niccolò Bardoscia, a seasoned quantitative trader within the bank, expanding blockchain projects.
The Role of Ripple Custody in Intesa’s Digital Asset Expansion
Partnering with Ripple Custody, formerly Metaco, has been crucial for Intesa Sanpaolo's competence in asset management. Cassie Craddock, Managing Director of Ripple for the UK and Europe, highlights Intesa's preparedness for safe asset management.
Regulatory Developments and Market Trends Favoring Crypto Adoption
Intesa Sanpaolo’s entry into the spot crypto market aligns with favorable regulatory trends in Italy and the EU. Reduced tax barriers make this form of trading more accessible to institutional players like Intesa.
Intesa Sanpaolo's expansion into cryptocurrency spot trading reflects the growing interest among global financial institutions in integrating into the digital asset ecosystem.
