Buying bitcoin just got easier for Italians. The country’s mobile bank Hype has announced a partnership with fintech Conio, enabling customers to buy, sell, and securely store BTC from within their banking app. With over a million Italians choosing to bank with Hype, and 60,000 new customers being onboarded each week, the challenger bank’s decision to offer bitcoin is significant.
Believe the Hype
Launched in 2015 by Italian bank Banca Sella, Hype reflects the growing trend towards digital-first challenger banks which cater predominantly to millennials. By linking up with Conio, Hype’s mobile platform saves customers the trouble of using cryptocurrency exchanges to buy bitcoin. Instead, they can purchase the digital currency in-app, without the need for extra verification requirements.
When it comes to bitcoin storage, Milan-based Conio utilizes a multi-key solution, with three keys for each wallet. Because two are necessary to authorize transactions, with one stored on the user’s device, another on Conio’s servers, and a third kept offline by Hype, customers can maintain control over their funds and regain access if they lose their device.
Giving the Customer What They Want
The wallet integration is the result of demand for bitcoin among Hype’s customers, according to CEO Antonio Valitutti: “Over 13% of our customers demanded bitcoin. We heard them, and we did our best to bring them the best solution: that’s why we chose Conio. We are very happy with our partnership, which also demonstrates the pioneering spirit of Hype.”
Christian Miccoli, Conio co-founder and CEO, added, “We are thrilled by this result. It shows that banks must not be afraid of cryptocurrencies,