Intesa Sanpaolo, Italy's largest bank, has disclosed a $231 million exposure to cryptocurrencies in the first quarter of 2026. This exposure, which represents a small fraction of the bank's €930 billion in total assets, includes on-balance-sheet positions and client-related exposures such as structured products and funds linked to digital assets. The bank's involvement in crypto is focused on tokenization initiatives, digital custody services, and structured products, rather than speculative investments. Intesa's crypto strategy aligns with a broader trend among European banks, which are increasingly investing in digital asset infrastructure. This move is supported by the EU's Markets in Crypto-Assets (MiCA) regulation, providing a clearer framework for banks to operate within. Other major banks like BBVA, Santander, and Société Générale are also advancing similar initiatives, indicating a shift towards integrating tokenized securities into traditional banking operations.