Italy’s Banca Sella Capitalizes on Lock Down By Offering Bitcoin Trading
Increasing adoption of cryptocurrency and the outbreak of coronavirus has inspired Italy’s Banca Sella to roll out Bitcoin trading facility.
The trades are handled by the bank’s Hype platform, with the bank acting as a third-party to nullify against likely safety threats with cryptocurrency exchanges.
As the nation is totally in lock down state and almost everyone is staying at home, the bank is taking advantage of the rising interest in cryptos, and Bitcoin in particular, as a secure method of remitting money globally amidst the coronavirus crisis.
Roughly 1.20 million Italians are currently using Banca Sella’s Hype platform to conduct trades.
In addition to buying and selling Bitcoin, clients of Banca Sella will also be able to settle for goods and services using the cryptocurrency.
Antonio Valitutti, General Manager at Hype said:
“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.”
Enthusiasm towards cryptos and blockchain has increased in the last few months among Italian organizations. Blockchain technology based platform was used to conduct electronic voting in Naples. Last week, two Italian high schools announced they would document diplomas on blockchain.
Milan-headquartered blockchain focused firm Conio is also planning to offer extra Bitcoin wallet on the Hype platform, in addition to trading and safe custody of cryptocurrencies. The facility is offered to clients without a need of submitting extra documents or complying with additional KYC (Know-Your-Client) criteria to start trading Bitcoin and other cryptos.