The Bank of Italy's innovation hub, Milano Hub, has selected Ethereum scaling network developer Polygon Labs for its institutional DeFi ecosystem project. Polygon Labs will provide support for Italian banks and financial institutions, including Intesa Sanpaolo, to explore decentralized finance and tokenized assets. The project, led by Cetif Advisory, aims to enable traditional financial institutions to adopt security tokens and safely conduct transactions using DeFi protocols. The bank has invited collaboration from crypto infrastructure provider Fireblocks, tech developer Reply, legal and tax consultant Linklaters, and web3 studio DVRS, with support coordinated by Certif Advisory.