Banca Sella, one of the largest private banks in Italy, has recently launched a Bitcoin trading service in a bid to facilitate clients’ transactions amid the COVID-19 pandemic. The Bitcoin trading service will be carried out on Banco Sella’s Hype platform that already has about 1.2 million people using it to conduct transactions.
With the addition of the Bitcoin trading service to the Hype platform, over one million users will be able to buy and sell bitcoins, send and receive them and can also make payments for goods and services using Bitcoin on platforms that accept the cryptocurrency.
The service is currently undergoing beta testing on a limited number of clients and will soon be available to all customers. Once the service is fully established, the Banca Sella will serve as a middleman in the transaction processes so as to limit the potential security risks associated with cryptocurrency exchanges.
Italy seems to be the country worst hit by the COVID-19 pandemic, with death rates rising above China’s. The Italian government has taken extreme measures in order to curb the spread of the virus, including a lockdown, making it virtually impossible for citizens to carry out day-to-day activities.
However, with the launch of Banco Sella’s Bitcoin trading service, clients are provided with an even better alternative for making payments and transferring funds internationally in the comfort of their homes. This will also help to gear the attention of Italians toward Bitcoin, thus, paving the way for nationwide adoption.
Admittedly, there has been an increased interest in cryptocurrencies and blockchain in Italy. One such case is the use of blockchain technology by ACF Fiorentina, a professional football club in the country, to make for easy recognition of the team’s official jerseys and prevent counterfeiting.