Italian Bank offers Bitcoin Wallet Integration in their Online Platform.

[pugman]

Holy hellening! THis is amazing news! Who would have thought, that in midst of a globally spread pandemic, something like this would happen. This might genuinely help the people in Italy who are having issues with sending or receiving money.

Thank you @vincenzo, thank you for bringing in change in this time of need. If I may suggest, try gamifying the whole experience, as in run some sort of an Online giveaway, or drop in some amount of bitcoin to your Hype users, it will be really helpful for the people in need, and will also help you gain some 'traction.

And please, please try to make this global, oh what I would do to trade, and exchange bitcoin within my bank account itself. oh.

[Meowth05]

Another milesrone for cryptocurrency industry, I hope that when this pandemic is over we can further innovate this application. This is a very good start-up for people to trust the efficiency of cryptocurrency.

[Argoo]

It will be interesting to see if they start feeling any pressure from other banks due to FATF travel rule which is supposed to apply to cryptocurrency transactions too, that would spell the end transferring bitcoins without limitations through banks like these.

FATF recommendations come down to ensuring that the user is identified if the transaction amount exceeds one thousand euros. In my opinion, in this case, each user of the services offered is a client of the bank and the bank has enough data to identify its customers. Therefore, there is no need for any additional restrictions. The beginning is very interesting. I hope that banks will soon switch to services in other types of cryptocurrencies, since payments in bitcoins are not always convenient due to the high cost of the transaction.

[TheGreatPython]

I just like how the bank looks like, it’s just very simple and the design isn’t clustered like most bank apps you will see, just a minimum design and cool at the same time. 1.2 millions clients is not a small number, at least half of those that are using that app that are not into cryptocurrency would develop interest as time goes on and they will try to purchase and see how it works.

Also, maybe when they try it out for the first time they will start gaining interest in it. This is still new, if the government should approve the bigger banks, they might start integrating Bitcoin wallets and offering the services as well. New German law that was passed around February was said to allow such.

[NeuroticFish]

First important news: these are real bitcoins

I'm truly impressed! It's quite a leap from what banks were telling about Bitcoin some years ago.
I don't know how big the fees are, but I think that's worth it for many (which don't know what Binance, Bitstamp, Coinbase are).

We've always needed serious stuff, not vapourware stuff that won't materialize, not promises that bitcoin will do that and that and save humankind or anything else.
[...]
What we need is [...] easy ways to buy stuff with BTC, easy ways to buy BTC to send and store,
[...]
Anyhow, congratulations on achieving this, I hope the rest of the EU block follows!!!

I dare to say that THIS is exactly what I think as an easy way to buy and use your coins.
What is better than a complete integration of Bitcoin in your mobile banking app?

Indeed. Well said, both of you.

[Juggy777]

We've always needed serious stuff, not vapourware stuff that won't materialize, not promises that bitcoin will do that and that and save humankind or anything else.
[...]

What we need is [...] easy ways to buy stuff with BTC, easy ways to buy BTC to send and store,
[...]

Anyhow, congratulations on achieving this, I hope the rest of the EU block follows!!!

I dare to say that THIS is exactly what I think as an easy way to buy and use your coins.
What is better than a complete integration of Bitcoin in your mobile banking app?

@stompix I’ll second that as bitcoin is a currency and it should be used like a currency, and I believe that the EU shall try and implement this once the virus starts to slow down.

Holy hellening! THis is amazing news! Who would have thought, that in midst of a globally spread pandemic, something like this would happen. This might genuinely help the people in Italy who are having issues with sending or receiving money.

And please, please try to make this global, oh what I would do to trade, and exchange bitcoin within my bank account itself. oh.

@pugman indeed this news is like finding a pool of water in the sand, considering we’re only hearing bad news constantly from Italy and I too would love to use an app where my banking and bitcoin wallet is integrated.

[malevolent]

It will be interesting to see if they start feeling any pressure from other banks due to FATF travel rule which is supposed to apply to cryptocurrency transactions too, that would spell the end transferring bitcoins without limitations through banks like these.

FATF recommendations come down to ensuring that the user is identified if the transaction amount exceeds one thousand euros. In my opinion, in this case, each user of the services offered is a client of the bank and the bank has enough data to identify its customers. Therefore, there is no need for any additional restrictions. The beginning is very interesting. I hope that banks will soon switch to services in other types of cryptocurrencies, since payments in bitcoins are not always convenient due to the high cost of the transaction.

Yeah but what if the user sends the bitcoins to some address belonging to someone who's not a customer at this bank?

I hope they won't be pressured to introduce restrictions where the user can transfer their bitcoins.

[fillippone]

A little bit of update on the supported functions.
For the moment you cannot RECEIVE bitcoin on your Hype ACCOUNT, but you can only send to BTC addresses.
I guess this has to do with KYC/AML regulations.
This function is going to be implemented in the coming months.
Very curious on how this will be implemented, and which practices will they be using.

Will they pass the Giacomo Zucco's acid test?

A Treatise On Bitcoin And Privacy Part 1: A Match Made In The Whitepaper

[Sadlife]

In this trying times Bitcoin should be most convenient to use given the fact that it doesn't require physical transaction and could possibly one of the reasons of transferring of infectious diseases and with the worsening of the economy people and the government should protect their citizens wealth in case the pandemic disease takes time to get solve.

[Yatsan]

In this trying times Bitcoin should be most convenient to use given the fact that it doesn't require physical transaction and could possibly one of the reasons of transferring of infectious diseases and with the worsening of the economy people and the government should protect their citizens wealth in case the pandemic disease takes time to get solve.

Bitcoin is one of the choice but sadly, using bitcoin in everyday transaction is so hassle, it's transaction speed is so slow! and the fee Is quite not practical for micro-transaction. Using bitcoin for large transaction is okay but for canned transaction t's not. using cryptocurrency might not be usable for normal people in their everyday life so still, in this pandemic people are still using fiat considering that t's not hassle. Sadly, people want fast transaction and that's it.

[azarharus]

In this trying times Bitcoin should be most convenient to use given the fact that it doesn't require physical transaction and could possibly one of the reasons of transferring of infectious diseases and with the worsening of the economy people and the government should protect their citizens wealth in case the pandemic disease takes time to get solve.

Bitcoin is one of the choice but sadly, using bitcoin in everyday transaction is so hassle, it's transaction speed is so slow! and the fee Is quite not practical for micro-transaction.

You are so right dude. Actual bitcoin (and other crypto's) transactions make it obvious - cryptocurrencies are not ready to replace current fiat currencies we use daily

[tvplus006]

It is very interesting that the integration of bitcoin into the banking sector occurs at a time when many markets are closed due to coronavirus. This is very good news when we read about the integration of bitcoin into the real sector. And those banks that will do this first will get an advantage over the rest.