The Italian central bank facilitates institutional involvement in tokenized assets through DeFi projects such as Polygon and Fireblocks.

Odaily News: The innovation center of an Italian bank will provide support for a DeFi project involving Polygon Labs and crypto custodian Fireblocks to help financial institutions enter the DeFi and tokenized asset space.



According to the press release, Milano Hub, the center for the development of financial innovation concepts by the Bank of Italy, will support the development of an institutional-grade DeFi securities token ecosystem within six months. The platform aims to assist traditional financial institutions in experimenting with securities tokens and executing transactions on DeFi rails in a secure and regulated manner.



Consulting firm Cetif Advisory will lead the development of the platform and coordinate the work of Polygon Labs, Fireblocks, technology developer Reply, legal and tax consulting firm Linklaters, and web3 studio DVRS.



According to the press release, the project will involve Italian banks, asset management companies, and financial institutions, including the country's largest banking group, Intesa Sanpaolo, which manages over $1 trillion in assets (€975 billion). (CoinDesk)