Italian cryptocurrency wallet provider Conio has collaborated with the renowned U.S. exchange Coinbase to broaden digital asset provisions within Italian banks and financial sectors.
The partnership, revealed recently, signifies Conio’s intention to utilize Coinbase Prime, ensuring extensive liquidity and trading functionalities across a diverse range of cryptocurrencies.
In a bold move aiming for the close of 2023, the fintech company aims to expand custodial wallet support, encompassing nearly 50 distinct tokens through seamless integration.
MiCA regulations are bolstering the cryptocurrency landscape in Europe, fostering an atmosphere of trust and propelling the adoption of digital currencies within institutional frameworks. With upcoming regulations like Markets in Crypto Assets (MiCA) offering clarity, interest in asset tokenization is burgeoning, further amplifying institutional engagement with digital assets.
Orlando Merone, General Manager at Conio, expressed their strategic approach, stating, “Conio has introduced Italy’s first multisignature bitcoin wallet for smartphones and is now augmenting custody capabilities in response to growing digital asset demands from Italian banks.” Merone also outlined their plans to integrate EVM Ethereum Virtual Machine chains, aiming to encompass 60% of cryptocurrency markets.
With an existing customer base of over 400,000, Conio brings a substantial user foundation to the partnership. Bolstered by ownership stakes from legacy Italian institutions like Poste Italiane and Banca Generali, Conio boasts robust connections within the domestic banking sector.
Beyond catering to private banks seeking to tap into digital currency interests, Conio actively participates in Italy’s central bank-driven initiative, the Euro Token project. This initiative focuses on exploring the potential applications of a centrally issued digital euro.
