Highlights:
- Italy’s Banca Sella has announced that it will introduce Bitcoin trading options for users.
- Banca Sella’s Hypes mobile app will enable BTC transactions at zero charges.
- Bitcoin continues to struggle around the $60,000 price region despite attempting to break through on several occasions.
Italy’s Banca Sella has introduced Bitcoin (BTC) trading options for over one million customers, marking a significant landmark in crypto adoption. Established in 1886, Banca Sella is the second oldest bank in Italy. Hence, it has become one of the oldest financial firms to embrace crypto transactions.
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Banca Sella to Enable Bitcoin Transactions via its Mobile App
According to the Italian banking institution, crypto transactions will happen via Banca Sella’s mobile banking app, Hype. Interestingly, the app will allow about 1.2 million users to transact directly, bypassing the conventional method of crypto transactions via exchanges.
Aside from its unique style of enabling crypto transactions, the Bitcoin wallet will attract zero charges. Additionally, trading caps will depend on account level. For context, trading caps’ dependency on account status aims to regulate the new offering, pending when it considerably matures. Furthermore, it presents a viable means of introducing flexibility and reducing risks.
With the limitations above, traders with accounts tagged as “Hype Start” will only trade a maximum of $2,700 per year. Conversely, upgraded accounts, including Plus and Premium, can transact $54,000 annually.
🚨 BREAKING: ITALY'S SECOND OLDEST BANK, BANCA SELLA, LAUNCHES BITCOIN TRADING
Italy's Banca Sella, established in 1886, has introduced Bitcoin trading through its Hype mobile banking app, currently serving over 1.2 million users.
This move allows users to trade Bitcoin… pic.twitter.com/wULO5N8MZa
— JAKE (@JakeGagain) August 19, 2024
Hype Crypto Transaction Will Roll out Soon
At the time of press, the crypto trading via the mobile app is under beta testing. Only selected Hype users can access the service, pending its comprehensive launching. Meanwhile, concerning the exact release date, no specific timeline has emerged. However, chances are high that it will grace the crypto market in the coming days.
Possible Implications?
Because arguments have always emerged on the sustainability of Bitcoin and other cryptocurrencies, Italy’s Banca Sella will induce a paradigm shift. Aside from expanding Bitcoin adoption globally, it is also integrating cryptocurrencies with traditional payment systems.
In addition, it will undoubtedly be a stepping stone for banking firms, especially those around Europe, to embrace cryptocurrencies. If other banking institutions can adopt similar measures, the impact on users will be positive for the crypto space. It will enhance a seamless crypto education that comes naturally via easy access to cryptocurrencies and other digital assets.
For Italy’s Banca Sella, Bitcoin adoption will boost its customer base by attracting global investors, especially crypto advocates. Additionally, such a significant initiative will make it stand out amongst its peers, courtesy of its unique offers other than the traditional system. On BTC’s part, wild spread adoption would only signify positive influences on the token’s price. Overall, every other cryptocurrency will benefit from Bitcoin’s soaring adoption, implying good news for the crypto world.
🚨BREAKING 🚨
BANCA SELLA, ITALY'S SECOND
OLDEST BANK {EST.1886} NOW
TO OFFER BITCOIN TRADING TO
OVER 1,300,000 CUSTOMERS.GLOBAL ADOPTION CONTINUES 🔥 pic.twitter.com/4RWVpLw5zb
— Ash Crypto (@Ashcryptoreal) August 19, 2024
BTC Price Reaction as Banca Sella Announces Bitcoin Trading
At the time of press, Bitcoin is changing hands at about $59,100, reflecting a subtle 0.8% decline in the past 24 hours. The $60,000 price mark has posed strong resistance, which BTC has attempted to break following its recovery from past slumps. While BTC continues to navigate breaking above $60,000, Italy’s Banca Sella’s adoption news could come in handy in steering a positive price drive.
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