Customers may now trade Bitcoin using Hype, the bank’s mobile banking application.
The service won’t need any third-party exchange to process the transactions.
Italian bank, Banca Sella, is gearing ready to provide Bitcoin trading services to its clientele, according to a recent update. Especially in light of the increasing institutional adoption of cryptocurrency, this action has sparked market debates. A number of prominent US banks and state pension funds have recently come clean about their investments in the Spot Bitcoin ETF.
Customers of Banca Sella, one of the oldest banks in Italy, may now trade Bitcoin using Hype, the bank’s mobile banking application. Exclusive to a small subset of Hype’s premium users, this service is only now entering its beta testing phase. Nevertheless, the service will soon be available to all customers, which is a major step forward in the bank’s digital transformation.
Trading Limits Imposed
At the same time, the service won’t need any third-party exchange to process the transactions. Simply said, users would be able to purchase and trade the cryptocurrency right on the Hype platform. It is worth mentioning that the service integration occurs in the midst of increasing institutional interest in the cryptocurrency market. On top of that, it shows that people are curious about digital assets and other alternative financial solutions.
In addition, Hype is working on a feature that will let users transfer some of their Bitcoin to contracts in their address book. Apart from that, it would also let its users buy things at stores that accept cryptocurrency. Notably, the Bitcoin wallet is advertised by Banca Sella as being “totally free” and having just four steps to use. Nevertheless, the bank has imposed trading limits to control its new product, even if it is easily accessible.
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