Is Bitso a bank?

Excuse me, could you please clarify something for me? I've been hearing a lot about Bitso recently, and I'm wondering if it's considered a bank or not. I understand that it's a cryptocurrency exchange platform, but some people seem to use it interchangeably with traditional banking services. So, my question is, does Bitso actually function as a bank, or is it strictly a platform for buying, selling, and trading digital currencies?