Conio and Coinbase Partner to Introduce Digital Assets to Italian Financial Institutions

Conio, a cryptocurrency wallet firm partially owned by Poste Italiane and Banca Generali, has joined forces with Coinbase (COIN) to introduce a diverse array of digital assets to Italian banks and financial institutions, as announced on Monday.

With over 400,000 customers, Conio is collaborating with Coinbase Prime to offer liquidity to institutions dealing with digital assets. Simultaneously, they plan to expand wallet support to encompass up to 50 tokens by the close of 2023.

A surge in confidence regarding cryptocurrencies is spreading through European banks and institutions, influenced by factors such as the forthcoming Markets in Crypto Assets regulation and a growing interest in tokenization.

Orlando Merone, Conio’s general manager, highlighted, “Conio initially introduced Italy’s first multisig bitcoin wallet for smartphones and is now expanding custody capabilities in response to Italian banks’ heightened interest in digital assets.” He added, “We’re incorporating EVM Ethereum Virtual Machine chains, aiming to cover nearly 60% of the digital assets market by the coming year.”

Conio is deeply engaged in the institutional adoption of digital assets, notably contributing to the Euro Token project under the guidance of the Bank of Italy’s innovation center.

Merone emphasized, “The Bank of Italy is actively engaged with numerous projects and closely monitoring the market. The advancements in tokenization are poised to significantly reshape e-money within the fintech industry. Their support is crucial for the evolution of Italy’s digital assets sphere.”


Disclaimer: Not Investment Advice

it’s crucial to understand that the information provided here is not to be construed as investment advice. The crypto market is dynamic and highly speculative, and decisions should be made based on thorough personal research and consideration of individual risk tolerance. Always consult with financial professionals and conduct your own due diligence before making any investment decisions. The intention of this exploration is to present insights and trends, not to provide specific investment recommendations.

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