One Italian bank is in the focus of the Bitcoin news now for preparing to offer BTC trading services to more than 1.2 million of its customers. Obviously, this is all due to the coronavirus outbreak and the COVID-19 disease which is spreading and as tolls today show, is found in more than 40,000 Italians.
The country stepped up with many measures and practically locked people in their homes last week. However, the death toll increased to 427 deaths yesterday and the measures are continuing in the same manner. This is why the Italian bank named “Banca Sella” is preparing to launch Bitcoin trading services for many of its mobile banking customers.
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As we can see, the plans involve using the 1.2 million-user Hype mobile banking platform to allow customers to create a Bitcoin (BTC) wallet in the bank as well as buy and sell BTC and retain full control over their holdings without making use of exchanges. The support center confirmed this and wrote:
“The service is currently in beta testing for a small group of Hype Plus [premium] customers. In a few days, it will be available to all customers.”
With the nation being on lockdown as the COVID-19 virus outbreak rages, bank customers definitely need this kind of a service – especially when they find it hard to send and receive funds from conventional financial providers. This is a factor which could send many Italians to seek solutions powered by cryptocurrencies such as Bitcoin (BTC).
The bank also placed some promotional materials in the cryptocurrency news and stated that setting up a Bitcoin wallet was “totally free” and only involved “four steps.” Still, the bank has placed trading caps on its new services with tiered daily and annual sales and buying caps.
All in all, the Hype Start (basic account) customers of this Italian bank will be able to buy and sell a maximum of $2,700 per year, while the Plus and Premium account holders and their buying/selling rates are capped at around $54,000 per year. According to research by Mediobanco carried out in 2016, Sella is the 20th largest Italian bank which exists since the 19th century and was founded in Biella, Northern Italy.
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