Italian banking institution Banca Sella has announced the introduction of Bitcoin trading services on its mobile banking platform, Hype.
Introduction of New Services
Banca Sella, leveraging its historic reputation, announced its entry into the crypto market. The bank, which currently serves 1.4 million customers, will gradually roll out Bitcoin trading services to its users.
Trading Limits
To manage risk, the bank has implemented trading limits: Hype Start accounts are capped at $2,700 annually, while Plus and Premium accounts have a $54,000 limit. The new service, currently in beta testing for Hype Plus customers, will soon be available to all Hype users. It allows clients to buy, sell, and send Bitcoin directly within the app, eliminating the need for external exchanges.
Trend of Institutional Adoption
This move is part of a broader trend of institutional adoption of cryptocurrency. Global financial institutions like J.P. Morgan Chase, BlackRock, and Greyscale have all embraced pro-crypto practices, notably in the form of spot BTC ETFs.
The launch of Banca Sella's Bitcoin trading service is a significant step in the growing movement towards institutional adoption of cryptocurrencies, addressing the increased demand for alternative financial solutions amid the COVID-19 pandemic.
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