Italy's Hodli says it has approval to be country's first crypto asset manager

MILAN, June 30 (Reuters) - Genoa-based fintech Hodli said on Tuesday it had received regulatory approval under European Union rules on digital assets to operate as Italy's first manager of crypto asset portfolios.

• Hodli said it had been authorised by the Bank of Italy as a provider of crypto asset services (CASP) under the EU's MiCAR regulation.

• Hodli said the supervisory green light allowed it to manage crypto assets on behalf of clients, not simply hold them as a custodian like other similar Italian companies active in the sector.

• CEO Gianluca Sommariva said Hodli used proprietary algorithms to analyse, allocate and monitor clients' investments in crypto assets, while also using artificial intelligence technology to improve the performance of managed portfolios.

• Hodli said it could now partner with banks to help them manage the crypto component of customers' investment portfolios.

(Reporting by Valentina Za. Editing by Mark Potter)