Italian Bank Banca Sella Launches Bitcoin Trading Service Amid COVID-19 Outbreak

News | March 23, 2020 By:

Italian bank Banca Sella has recently launched a crypto trading serivce to allow its customers to buy and sell bitcoins.

Per the official announcement, bitcoin trading will be conducted through Banca Sella’s Hype platform, which has about 1.2 million users. The bank will act as an intermediary to mitigate potential security risks associated with crypto exchanges. Currently, the service is undergoing beta testing on a limited number of clients and will soon be available to all customers.

As Italy is in lockdown due to the major outbreak of COVID-19 in the country, Banca Sella said that it is taking advantage of the increasing interest in bitcoin as a safe way to transfer money internationally. Users will also be able to pay for goods and services with bitcoin.

“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,” said Antonio Valitutti, General Manager at Hype.