Bank of Italy's Milano Hub partners with Cetif Advisory to explore DeFi for institutional investors BankofItaly centralbankdigitalcurrency CBDC
- The Bank of Italy is jumping into the world of decentralized finance as the Milano Hub innovation center, the central bank’s center for developing innovative ideas in finance, is supporting the development of a project launched by Cetif Advisory to research a security token ecosystem for institutional DeFi.
Some of the other partners on the project include tech developer Reply, legal and tax consultant Linklaters and web3 studio DVRS. Multiple Italian banks – including Italy’s largest bank, Intesa Sanpaolo – asset management companies, and ten other financial institutions will participate in the implementation side of the trial.
Baharier told Decrypt that Cetif's protocol will include traditional rails around know-your-customer and anti-money laundering verifications to help participating firms and the platform as a whole remain in compliance with regulations.
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