• Italy’s Banca Sella is planning to launch a Bitcoin trading service amid surged crypto adoption caused by the coronavirus outbreak.
  • Around 1.2 million Italians are using Banca Sella’s platform, Hype, to carry out transactions.

Italy’s Banca Sella is planning to launch a Bitcoin trading service amid surged crypto adoption following the coronavirus outbreak. The trading will be conducted through the bank’s Hype platform. Banca Sella will act as an intermediary to mitigate potential security risks associated with crypto exchanges. As Italy is in lockdown, the bank is taking advantage of the increasing interest in Bitcoin as a safe way to transfer money internationally. 

Around 1.2 million Italians are already using Banca Sella’s Hype to carry out transactions. In addition to these users being able to buy and sell Bitcoin, they can also pay for products and services using crypto. Antonio Valitutti, General Manager at Hype, said:

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.

Over the last few months, Italian institutions have shown increased interest in blockchain and crypto. Blockchain technology was leveraged in electronic voting in Naples and two high schools in the country announced they would record diplomas on blockchain. Conio, a Milan-based startup, has also announced that they will be offering an additional Bitcoin wallet on the Hype platform, along with buying/selling and safe custody of digital assets.


Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Recommended content


Recommended Content

Editors’ Picks

Ripple's XRP holds symmetrical triangle support as SEC acknowledges Bitwise XRP ETF filings

Ripple's XRP holds symmetrical triangle support as SEC acknowledges Bitwise XRP ETF filings

Ripple's XRP is down 3% on Tuesday despite the Securities and Exchange Commission (SEC) acknowledgment of Bitwise XRP ETF. Unchained Crypto noted that XRP ETF could underperform due to key fundamental issues.

More Ripple News
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC, ETH and XRP could decline on FTX repayments pressure

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC, ETH and XRP could decline on FTX repayments pressure

Bitcoin (BTC) price has been consolidating between $94,000 and $100,000 for two weeks. Ethereum (ETH) and Ripple (XRP) faced a pullback earlier this week. BTC, ETH and XRP prices could decline further as FTX repayments could raise selling pressure.

More Cryptocurrencies News
Bitcoin stretches losses as CME premiums dip, Strategy aims to purchase $2 billion worth of BTC

Bitcoin stretches losses as CME premiums dip, Strategy aims to purchase $2 billion worth of BTC

Bitcoin (BTC) continued its downward trend on Tuesday as K33 Research's weekly report indicated growing declines in BTC CME premium and yields. BTC has shown a directionless movement since the presidential election, which suggests waning interest among investors.

More Bitcoin News
How will Dogecoin price react to Elon Musk investigating the US SEC?

How will Dogecoin price react to Elon Musk investigating the US SEC?

Dogecoin price hit $0.25 on Tuesday, plunging 10% in 48 hours as the market reacted to regulatory squabbles between Elon Musk-led D.O.G.E and the US SEC.

More Dogecoin News
Bitcoin: BTC consolidates before a big move

Bitcoin: BTC consolidates before a big move

Bitcoin price has been consolidating between $94,000 and $100,000 for the last ten days. US Bitcoin spot ETF data recorded a total net outflow of $650.80 million until Thursday.

Read full analysis
The Best Brokers of the Year

The Best Brokers of the Year

SPONSORED Explore top-quality choices worldwide and locally. Compare key features like spreads, leverage, and platforms. Find the right broker for your needs, whether trading CFDs, Forex pairs like EUR/USD, or commodities like Gold.

Read More

BTC

ETH

XRP