Standard Bank is reportedly busy testing Bitcoin exchange services internally.

According to a MyBroadband report, the bank is running an internal trial platform using technology from Switchless.

Bitcoin is a digital currency that uses cryptography to create and transfer money.

The currency is “mined” using algorithms and PC computers to solve crytographic problems.

According to the report, the Bitcoin pilot platform includes features to buy, sell, store and spend the cryptocurrency.

A spookespoerson for Standard Bank confirmed that the bank was testing the Bitcoin platform internally.