COVID-19 Not Stopping Italian Bank From Launching a Bitcoin Trading Service

Siamak Masnavi

Due to growing interest in Bitcoin, Italian bank Banca Sella has launched a Bitcoin trading service.

Banca Sella S.p.A., which is a wholly-owned subsidiary of Italian holding company Gruppo Banca Sella, recently launched a beta test of this service for a small group of customers who are using the bank's new digital banking platform HYPE Plus, but soon will be available to all customers of the bank.

The idea is that customers will be able to buy/sell Bitcoin, send Bitcoin to contacts in their address book, or pay for goods/services in those cases when the merchant offers Bitcoin as a payment option.

Once a HYPE account holder has used the HYPE mobile app to create a Bitcoin wallet (which can be done with 4 taps), this wallet is linked to the customer's HYPE account, which means that when they buy Bitcoin, the bank will automatically deduct the cost of the purchase from the balance of their HYPE account. All they need to do is tell the app the amount (in euros) they wish to spend for the purchase, as you can see in the screenshot below:

Buying Bitcoin With Hype.png

Antonio Valitutti, General Manager for Hype told crypto news outlet Cointelegraph:

"The cryptocurrency and Bitcoin market in particular continues to arouse interest, especially among the public that constitutes our customer base — by definition young and smart and who, increasingly, expect to be able to access this world through the tool that they use to manage money on a daily basis."

Featured Image by "tpsdave" via Pixabay.com