Italy now has its first licensed crypto portfolio manager. Hodli, a fintech startup headquartered in Genoa, has received authorization from the Bank of Italy as a Crypto-Asset Service Provider under the European Union’s Markets in Crypto-Assets regulation, better known as MiCA.
The distinction here matters more than it might seem at first glance. Plenty of firms across Europe can custody crypto, essentially holding digital assets on behalf of clients. What Hodli can now do is actively manage those portfolios, making investment decisions, rebalancing allocations, and deploying strategies on behalf of its users.
What the license actually allows
MiCA created a standardized framework for crypto businesses operating in member states. The CASP designation is the gateway for firms that want to offer services like trading, custody, and, in Hodli’s case, portfolio management across the bloc.
For Italy specifically, the Bank of Italy serves as the competent authority granting these licenses. Hodli clearing that bar means the company met the regulator’s requirements around capital adequacy, governance, consumer protection, and operational resilience.
