Banca Sella, Italy’s second most established banking institution, is stepping into the crypto sphere by introducing Bitcoin trading options for its expansive client base of over 1.3 million customers. As one of the oldest banks, established back in 1886, this move signals a major traditional financial entity embracing the burgeoning asset class of cryptocurrency.
This initiative is set to launch through the bank’s mobile banking platform, Hype. Initially, Bitcoin trading was made available to a small group of Hype Plus premium customers for beta testing. However, the bank has confirmed that in mere days, the entirety of their customer base will have the opportunity to trade Bitcoin.
This year significantly marked the widely-popular cryptocurrency surging to its all-time high of $73,000, following the milestone approval of the first Bitcoin exchange-traded fund (ETF) in the United States. As a result, conventional financial firms now have the chance to substantially increase their exposure to the asset.
The surge in Bitcoin’s popularity drew asset managers like BlackRock and Fidelity into embracing the digital asset, further expanding its reach. The latest being Banca Sella, agreeing to offer Bitcoin trading to its vast clientele and taking the trend a notch higher.
The new trading service will be offered through the Hype platform, the result of a collaborative venture by Banca Sella Holding and Illimity Bank since 2021. Thanks to the partnership, the platform has emerged as one of Italy’s most recognized and widely used digital financial services.
This groundbreaking move means Italian Bitcoin investors no longer need a separate exchange to transact in the asset. They can now directly trade the cryptocurrency on the Hype platform. This progress not only simplifies the Bitcoin trading process but also affirms the crypto asset’s widespread acceptance and integration into mainstream financial institutions.