Hodli Secures Regulatory Approval as Italy’s First Crypto Asset Manager
Hodli Gains Regulatory Approval to Manage Crypto Assets in Italy
Regulatory Milestone for Hodli
MILAN, June 30 (Reuters) - Genoa-based fintech Hodli said on Tuesday it had received regulatory approval under European Union rules on digital assets to operate as Italy's first manager of crypto asset portfolios.
Authorization Details
• Hodli said it had been authorised by the Bank of Italy as a provider of crypto asset services (CASP) under the EU's MiCAR regulation.
Scope of Services
• Hodli said the supervisory green light allowed it to manage crypto assets on behalf of clients, not simply hold them as a custodian like other similar Italian companies active in the sector.
Innovative Technology and Partnerships
Use of Proprietary Algorithms and AI
• CEO Gianluca Sommariva said Hodli used proprietary algorithms to analyse, allocate and monitor clients' investments in crypto assets, while also using artificial intelligence technology to improve the performance of managed portfolios.
Collaboration with Banks
• Hodli said it could now partner with banks to help them manage the crypto component of customers' investment portfolios.
Reporting and Editing
(Reporting by Valentina Za. Editing by Mark Potter)
