Italy’s biggest bank Intesa Sanpaolo makes first proprietary Bitcoin buy for $1 million
1 day, 10 hours ago

Italy’s biggest bank Intesa Sanpaolo makes first proprietary Bitcoin buy for $1 million

Live Mint  

Intesa Sanpaolo, the Italy's biggest bank has made its first proprietary Bitcoin purchase, buying roughly 1 million euros worth of the cryptocurrency. The lender bought 11 Bitcoin on Monday, the bank’s digital asset trading and investments head Niccolò Bardoscia said in an internal email that was posted on online forum 4chan. “It’s very small amounts, considering we have 100 billion euros in our securities portfolio,” Intesa Chief Executive Officer Carlo Messina said on Tuesday. While Intesa is currently only prop trading — buying and selling using its own balance sheet rather than on behalf of clients — the crypto desk’s activities fit with the bank’s broader blockchain projects, and it may be a stepping stone for eventually trading digital assets for institutional customers.

Bank Bitcoin Messina Intesa  bitcoin  crypto  need  makes  proprietary  trading  million  buy  messina  clients  sanpaolo  bank  biggest  intesa  potential  italys

History of this topic

Intesa Sanpaolo to Cut 9,000 Jobs in AI-Driven Transformation
2 months, 3 weeks ago

Intesa Sanpaolo to Cut 9,000 Jobs in AI-Driven Transformation

New Indian Express  

Italy's leading bank, Intesa Sanpaolo, has reached a deal with trade unions for 9,000 voluntary job cuts, representing around 10 percent of its workforce. The bank plans to hire 3,500 young employees to fill the vacant positions by mid-2028. These changes aim to enable generational change while strengthening the sustainability of the business model in the digitalisation and artificial intelligence …

Discover Related