Italy’s prestigious institution is preparing to introduce Bitcoin trading services.
Banca Sella, an Italian banking institution, has revealed that it will be offering Bitcoin trading services through its mobile banking platform, Hype.
On Monday, Banca Sella announced its intention to enter the cryptocurrency market, capitalizing on its strong reputation.
The bank, which caters to 1.4 million customers, will progressively introduce Bitcoin trading services for its users.
The new service, which is currently in beta testing for Hype Plus customers, will soon be accessible to all Hype users. This feature enables clients to buy, sell, and send Bitcoin directly within the app, removing the necessity for external exchanges. Users can conduct transactions and make purchases wherever cryptocurrency payments are accepted.
Trading Restrictions
In an effort to mitigate risk, the bank has established trading limits: Hype Start accounts are restricted to an annual maximum of $2,700, whereas Plus and Premium accounts are allowed a limit of $54,000.
This decision coincides with Italy's strict lockdown measures in response to the COVID-19 pandemic, which have led to a surge in demand for alternative financial solutions.
This initiative reflects a larger trend of institutional acceptance of cryptocurrency. Major global financial institutions, including J.P. Morgan Chase, BlackRock, and Greyscale, have adopted pro-crypto strategies, particularly through the introduction of spot BTC ETFs.
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Comments
solio2407
Its Good
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michel
Yes, we can expect a price increase
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Christopher
It can be considered as a positive fund
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