Bitcoin Trading in Italy

Italy’s Bank ‘Banco Sella’ Allows Bitcoin Trading Service during COVID-19 Lockdown

The growing interest of crypto adoption and the COVID-19 outbreak encourages Italy’s popular bank ‘Banco Sella’ to launch a Bitcoin trading service in the country.

Crypto traders can use the bank’s Hype platform to initiate their crypto trading. The bank will only act as an intermediate to mitigate potential security risks with cryptocurrency exchanges. While the country is facing the lockdown during the pandemic and following the “Stay-at-Home” calls, the bank shifts its focus on to the growing interest for Bitcoin. The bank considers now that it’s a safe way to transfer money internationally while the entire world is facing the crisis.

1.2 Million Italians Are Using Hype Platform At This Time

About 1.2 million Italians are using Banca Stella’s Hype platform at this time to carry out their transactions. They are not only using the platform to buy and sell Bitcoin but also they are using the platform to pay for goods and services with the cryptocurrency.

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.

Blockchain and cryptocurrency interests receive a massive acceleration among Italian institutions in recent months. This emerging technology was earlier applied to voting electronically in Naples. Also, two Italian high schools last week announced that they are interested in integrating diplomas on blockchain to their syllabus.

Per the previous media report, the Italy’s Red Cross Division has launched a Bitcoin Fundraiser initiative to help combat the COVID-19 pandemic in the country.

Other Italian startups joining the national crypto boost

Milan-based startup company ‘Conio’ also announced that they will offer an additional Bitcoin wallet on the Hype platform, along with buying/selling and safe custody of digital assets.

The service clarifies that they don’t need additional documents or Know-Your-Customer requirements to be able to carry out any Bitcoin-related activity.