Hype, previously owned by the Italian bank Banca Sella, now provides Bitcoin trading services to its customers, marking a major step forward in crypto adoption.
In a recent development, Hype, formerly owned by one of Italy’s oldest banks, Banco Sella, has begun offering Bitcoin trading services to its customers.
This move has sparked discussions in the market, especially as institutional interest in cryptocurrency continues to rise.
Hype’s Bitcoin Trading Service
Hype, previously owned by Banca Sella, one of Italy’s oldest banks, now offers Bitcoin trading services directly to its customers via mobile banking.
Currently, the service is in the beta testing phase and is available only to a select group of premium members.
However, Hype plans to make this service accessible to all its users soon, marking a significant milestone in the bank’s shift towards digital services.
Notably, this service eliminates the need for external exchanges, allowing users to buy and sell Bitcoin directly within the Hype platform.
The introduction of this feature comes at a time when institutional interest in the cryptocurrency market is growing.
It also underscores users’ increasing interest in exploring alternative financial solutions like digital assets.
Additionally, Hype aims to enable its users to send portions of Bitcoin to contacts in their address book and make purchases where crypto payments are accepted.
The bank promotes its Bitcoin wallet as “totally free,” requiring just four steps to use.
However, despite the ease of use, Hype has implemented trading limits to manage risk with its new offering.
Users with a “Hype Start” account can trade up to $2,700 annually, while those with Plus and Premium accounts are allowed to trade up to $54,000 per year.
These limits appear to balance risk management with the need to provide flexibility for more active traders.
Growing Interest in Crypto
Hype’s latest initiative is a significant step for users seeking financial alternatives. It also aligns with the increasing institutional interest in digital assets, particularly Bitcoin, on a global scale.
Recently, major U.S. banks like Goldman Sachs and Morgan Stanley have disclosed investments in Spot Bitcoin ETFs, highlighting the growing importance of crypto in modern finance.
Hype’s decision reflects a broader trend towards the adoption of digital currencies, not only in Italy but worldwide.
Despite this positive news, Bitcoin’s price saw a nearly 3% decline in the last 24 hours, trading at $58,281. However, its trading volume surged by 42% to $22.77 billion.
In the past day, Bitcoin’s price fluctuated between a low of $57,864.71 and a high of $59,975.08, demonstrating the ongoing volatility in the market.
