Summary Italian fintech Hodli receives EU MiCAR approval from Bank of Italy, becoming Italy’s first regulated crypto asset portfolio management provider.
MILAN (Reuters) - Italian fintech company Hodli has received regulatory approval under European Union digital asset rules to become Italy’s first manager of crypto asset portfolios.
The Genoa-based firm announced that it has been authorised by the Bank of Italy as a Crypto Asset Service Provider (CASP) under the EU’s Markets in Crypto-Assets Regulation (MiCAR).
The approval allows Hodli to manage cryptocurrency investments on behalf of clients, going beyond the role of a traditional custodian that merely holds digital assets.
Hodli Chief Executive Officer Gianluca Sommariva said the company uses proprietary algorithms to analyse, allocate and monitor clients’ crypto investments, while artificial intelligence technology is also being used to improve the performance of managed portfolios.
The company said the regulatory approval opens the way for partnerships with banks seeking support in managing the cryptocurrency component of their customers’ investment portfolios.
The EU’s MiCAR framework is designed to establish common regulatory standards for crypto asset service providers across member states, aiming to increase transparency and investor protection in the rapidly expanding digital asset sector.
