Due to the growing interest in Bitcoin amid the COVID–19 outbreak, Italian bank Banca Sella has launched a Bitcoin trading service.
Banca Sella which is a subsidiary of the Italian holding company of Banca Sella Group, recently launched a beta test of the trading service for a small group, which will soon be available to all of their 1.2 million customers. The crypto platform will monitor the value of Bitcoin in real-time. During a transacton, the transfer of the value of the Bitcoin will be immediate. The idea is that customers of the bank will be able to buy and sell Bitcoin, send Bitcoin, or pay for goods and/or services in cases when the merchant offers Bitcoin as an option for payment. This comes to market in a very timely manner amidst the COVID-19 pandemic.
Recently Banca Sella conducted a survey on a representative sample of its user base and results showed that over 13% of customers desired trading/using cryptocurrencies. This comes as no surprise considering Italy is one of the countries that is most impacted by the COVID-19 outbreak. The Italian government has taken extreme measures in order to control the spread of the virus, including enforceable lockdown, which makes it very difficult for citizens to carry out their daily activities.
With the launch of Banca Sella’s Bitcoin service however, citizens are provided with an alternative for making payments and transferring their funds without ever having to leave their homes. This will not only help mass adoption in Italy, but will help influence mass adoption worldwide. Which bodes the question…given the current global climate, which international banks, corporations and/or governments will be next?