10/05/2022 16:15
During the conference “Digital assets: a window on the future of asset management” organized by STATE STREET, Riccardo Negro, Chief Operating Officer & Business Transformation Fideuram Intesa Sanpaolo Private Banking commented: “We are witnessing a real digital revolution and the new world that is emerging will see the indispensable presence of large financial groups to be able to create a real market for digital assets. In the new ecosystem we will see the strong presence of traditional operators (asset managers, distribution networks and custodian banks) who will certainly also be able to bring the trust necessary to allow savers to invest safely and transparently in the digital asset market.
The top manager of Fideuram Intesa Sanpaolo Private Banking then continued: “In order for the Italian asset management market to invest safely in digital assets, it is also necessary that the custodian banks active in Italy develop specific services dedicated to the digital world with a new reference legislation, to date still in an initial phase. In my opinion, the most important services that the custodian bank will have to carry out in the world of digital assets will be mainly three: characteristic controls also for this asset class, a sophisticated cybersecurity framework and the ability to keep representative keys. In the near future, in fact, the private key will determine the possession of the digital assets. The theft or loss will effectively mean losing access to your data; to overcome this, it is necessary to have reliable operators on the market able to provide an end-to-end service: from creation to management of private keys “.