Italy’s historic Banca Sella to begin offering Bitcoin trading

Italian banking institution Banca Sella has announced the availability of Bitcoin trading services on its mobile banking platform Hype.

Leveraging its historical reputation, Banca Sella announced its entry into the cryptocurrency market on Monday. The bank, which currently serves 1.4 million customers, will gradually offer Bitcoin (BTC) trading services to its users.

The new service, currently in beta testing for Hype Plus customers, will soon be available to all Hype users. It allows customers to buy, sell, and send Bitcoin directly within the app, eliminating the need for external exchanges. Users can trade and make purchases anywhere cryptocurrency payments are accepted.

Trading limits

To manage risk, the bank has implemented transaction limits: the annual limit for Hype Start accounts is $2,700, while the limit for Plus and Premium accounts is $54,000.

This step was taken after strict quarantine measures implemented in Italy due to the COVID-19 pandemic increased the demand for alternative financial solutions.

This development is part of a broader trend of institutional adoption of cryptocurrency. Global financial institutions such as JP Morgan Chase, BlackRock, and Greyscale have adopted pro-crypto practices, most notably in the form of spot BTC ETFs.