• Tax management: Scalable calculates, withholds, and pays investment taxes on behalf of the client, offsetting gains and losses (regime amministrato). Those who prefer to manage their taxes on their own can opt for the self-reported tax regime (regime dichiarativo).
• Italian IBAN: New clients open an account with an Italian IBAN right from the start. Existing clients will receive an invitation in the coming months to switch to an Italian IBAN while keeping their investments, savings plans, performance history, and pricing in place.
• Local presence: Scalable Capital Bank opens an Italian branch, with an expanded office and a team in Milan.

Milan, 1st September 2026. Scalable Capital opens its Italian bank branch to the public today, offering an Italian IBAN, automatic tax management (regime amministrato), and an interest rate of 2.60% p. a. (variable)¹ on unlimited cash balances – backed by an expanded office and team based in Milan. The bank combines this market-leading offer with a broad investment universe of stocks, ETFs, cryptocurrencies via ETPs, derivatives, and commission-free savings plans starting from just €1. Founded in Germany and operating under a full European Central Bank license, the company serves clients across Italy, Germany, France, Spain, the Netherlands, and Austria, and aims to become the number one choice for Italians as they save and plan for their financial future.

Scalable Capital addresses a major issue in the Italian market: Italian savers hold over €1.1 trillion in current accounts yielding an average of just 0.19% per year according to ECB, steadily losing value to inflation.² Higher alternative rates are typically conditioned to lockup periods, salary deposits, or short-lived promotions. Scalable Capital will change this by offering 2.60%¹ p.a. interest (variable) on cash deposited in the Overnight account – calculated on the full balance, without limits, lockups, or required salary transfers. For context, moving €20,000 from an account yielding 0.19% to Scalable earns a saver approximately €356 more per year after taxes.

“Ever since we first introduced our services in Italy, the country has rapidly proven to be one of our most promising and high-growth markets. Today, with the official launch of our local bank branch and the activation of the regime amministrato, we are taking a major step forward to offer Italian investors a truly tailored and frictionless experience,” said Erik Podzuweit, founder and Co-CEO of Scalable Capital. “We are giving Italian investors a local, modern platform to build their financial future.”

This commitment is anchored by automatic tax management, designed to make investing and saving completely seamless. Under the administered tax regime (regime amministrato), Scalable acts as withholding agent (sostituto d'imposta) and handles all tax obligations directly – calculating, withholding, and remitting taxes while offsetting gains against losses so clients don't have to.

"Italian investing habits are transforming rapidly. According to a recent BlackRock study, ETF adoption in Italy will surge by 50% over the next 12 months, adding 1.2 million new investors. Launching our local branch with the regime amministrato positions us to lead this shift, offering a modern alternative to the often outdated, complex, and expensive traditional banking model,” stated Alessandro Saldutti. “We want to help Italians move their savings out of stagnant accounts and put them to work, without tricks, complications, or hidden conditions. Today's launch required years of work in the background, but marks a major step toward achieving that goal” stated Michele Raisoni, both Branch Managers of Scalable Capital Italy.

The news comes just days after the launch of Agentic Investing, which makes Scalable Capital the first bank in Europe to open its platform to all major AI assistants, including ChatGPT (OpenAI), Claude (Anthropic), and Grok (SpaceXAI). Clients can activate Agentic Investing in their profile settings and connect their account with their preferred AI assistant. The agents are capable of assisting them in managing trading, savings plans, watchlists, and price alerts, as well as providing access to news, market data, and in-depth portfolio analysis.

This new feature fits into the broader innovation journey that Scalable Capital has been pursuing since its inception, in terms of both products and offerings. A more structured presence in Italy today will allow Italian clients to benefit even more directly from it, through services and solutions designed to make the investment experience increasingly advanced, personalized, and efficient.

What changes, what stays the same

New clients receive an Italian IBAN upon sign-up, while existing clients have already been informed and will soon be invited for a seamless, free-of-charge switch in the coming months. Investments, savings plans, performance history, product offerings, and pricing remain completely identical. For €4.99 per month, PRIME+ members gain enhanced benefits, including flat-rate trading with €0.00 commission on orders over €250 (otherwise €0.99 per trade) and up to 5 x €100,000 in statutory deposit protection on cash held with Scalable Capital and its partner banks. Outside of PRIME+, cash balances are distributed across banks with €100,000 statutory deposit guarantee per client per bank or qualifying money market funds with UCITS protection standards.

Scalable Capital entered the Italian market in 2022 and has steadily expanded its offering since. The company is regulated by the German supervisory authorities Bafin and Bundesbank and by Banca d’Italia in Italy.

¹ Advertising message. Variable gross rate p.a. on cash deposited in the overnight savings account, composed of a base rate linked to the ECB Deposit Facility Rate and a discretionary bonus rate. Cash allocated to partner banks and qualifying money market funds. Information sheet and terms at scalable.capital.
² Bank interest rates - overnight deposits from households, Italy, monthly - ECB https://data.ecb.europa.eu/data/datasets/MIR/MIR.M.IT.B.L21.A.R.A.2250.EUR.N

About Scalable Capital

Scalable Capital is a leading bank that empowers people in Europe to shape their own finances. Scalable Capital makes it easy and affordable for clients to invest professionally in stocks, ETFs, cryptocurrencies, and derivatives and set up savings plans. Attractive interest and private equity complement the range of products and services. With the European Investor Exchange, Scalable Capital offers an exchange specifically for retail investors. More than one million clients already have a total of more than €60 billion on the platform.

Founded in 2014, Scalable Capital now employs over 800 people across Munich, Berlin, Milan and Vienna. Together with the founding and management team led by Erik Podzuweit and Florian Prucker, Scalable Capital is building the next generation of financial services.

Further information at: www.scalable.capital. A factsheet, photos, and previous press releases are available in the Newsroom.

For press enquiries:

Italy:
Angèlia Comunicazione
Rita Arcuri +39 333 2608159
Carlo Sardanu +39 3758856565
scalable@angelia.it

EU:
Ina Froehner
Scalable Capital
VP Communications & Public Affairs
+49 160 94435932
presse@scalable.capital