Banca Sella, one of Italy’s oldest and most respected banks, has announced plans to offer Bitcoin trading to its customers via its mobile application Hype
The Hype platform was developed in 2021 as a joint effort between Banca Sella Holding and Illimity Bank. Using Hype, Italian users can trade Bitcoin without going through exchanges.
To ensure safe trading with no trouble, Banca Sella has restrictions on yearly bitcoin trades for its customers. With “Hype Start” status, users can transact as much as 2,700 USD per year in bitcoins, while “Plus” and “Premium” members have limits set at 54,000 USD per year. These restrictions afford traders a fairly high degree of flexibility and also keep bank risk manageable at first sight
Beta testing will initially be offered for those Hype Plus (premium) clients. And that all users will have access to Bitcoin trading in a few days.
Hype’s platform also allows users to send bitcoin to people in their address book, and it also lets users buy goods wherever they accept cryptocurrency. Banca Sella is pushing their Bitcoin wallet as “thoroughly free,” while, in fact, it takes only four steps to set things up and actually simplify each user operation.
This strategic move by Banca Sella comes at a time of increasing interest by institutional investors in Bitcoin. Spot Bitcoin ETFs – acknowledged by major financial players such as Goldman Sachs and Morgan Stanley recently.
Bullish Announcement Market response
Despite these favorable developments, Bitcoin has been quite volatile. Its price continues to fluctuate between $58,000 and $60,000 US dollars.
As the market has stabilized following volatility in its recent period of some months, it is now undergoing a process of consolidation. The price stabilization trends prevail amid a boom in trading activity.
Daily average token transfer volumes increased from 650,000 to 765,000. This thrust derives from a blend of panic selling and resilient demand for the asset, so it seems that investors are actively bargaining in these stormy times.
