Italian Bank Opens Bitcoin Trading Platform

Italian bank Banca Sella is now offering its 1.2 million customers the ability to trade Bitcoin through their accounts, using a platform called Hype platform.

An Italian bank Banca Sella has come to the rescue of the local people to offer a Bitcoin trading platform, as Italy struggles to contain the contagious coronavirus. According to a statement by the bank, it will now provide its 1.2 million customers with a platform to trade Bitcoins with their available balances. Banca Sella has named the platform as, Hype platform.

It is evident this is not a new program in Italy where its people can exchange fiat for Bitcoins, however, the Hype platform is promising its customers a different taste in the market. The Hype platform will allow the users to buy Bitcoins with the bank acting as an intermediary to mitigate any kind of fraud or risk associated with crypto exchanges.

The bank is strategically placing its operations to minimize the cost of operation as coronavirus makes fiat money less favorable. With the world leaders during the UN meeting asking a more reduction in transaction fees during these times of virus pandemic, the Banca Sella will be a favorable place for Italians who want to do international cross-border payments.

As the week comes to an end, the crypto sphere led by their mother coin, Bitcoin, has shown greater tenacity to regain the bull rally. Bitcoin was trading at slightly above $6,400, after rising approximately 18.49% in the past seven days.

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