Italy's biggest bank, Intesa Sanpaolo , has made its first proprietary bitcoin trade, buying 1 million euros ($1 million) of the world's largest digital currency in what CEO Carlo Messina described as "a test".

A few days after the entry into force of the MiCAR, According to Mf, on Monday, Intesa Sanpaolo would have bought 11 bitcoins, entering the crypto market

While the purchase was confirmed, the banking group declined to elaborate on its motivations or potential future strategies involving Bitcoin

Italy's biggest bank Intesa Sanpaolo on Monday completed its first proprietary bitcoin trade investing 1 million euros ($1.03 million) into the world's largest digital currency, an internal memo showed.

Banking giant Intesa Sanpaolo, which has a market cap of $73 billion, has made its first crypto purchase.

Intesa Sanpaolo, the country's largest bank, has ventured into the cryptocurrency market by purchasing $1 million worth of Bitcoin (BTC).

Investing.com -- Intesa Sanpaolo (OTC: ISNPY) SpA, Italy's largest banking group, has purchased Bitcoin for the first time in a spot transaction. The bank bought approximately 1 million euros ($1 million) worth of the cryptocurrency, marking its deeper foray into this asset class.

Banca Intesa Sanpaolo has become the first credit institution in Italy to conclude a direct crypto transaction.

Intesa Sanpaolo, the Italy's biggest bank has made its first proprietary Bitcoin purchase, buying roughly 1 million euros ($1 million) worth of the cryptocurrency. The lender bought 11 Bitcoin on Monday,