The companies announced on Monday that Conio, a cryptocurrency wallet company that is partially owned by Poste Italiane and Banca Generali, has partnered with Coinbase (COIN) to offer a variety of digital assets to Italian banks and financial institutions.
With more than 400,000 users, Conio and Coinbase Prime are working together to offer liquidity to financial institutions that deal in digital assets and to expand wallet support for up to 50 tokens by the end of 2023. A general interest in areas such as tokenization and the nascent Markets in Crypto Assets regulation are driving a wave of confidence in crypto across Europe’s banks and institutions.
In an interview, Orlando Merone, general manager of Conio, stated, “We are expanding the custody capabilities because Italian banks are demanding more in the way of digital assets. Conio created the first multisig bitcoin wallet for smartphones in Italy.” “By next year, we hope to have covered nearly 60% of the market for digital assets, and we are doing so by adding Ethereum Virtual Machine chains.”
Furthermore, Conio has a significant role in the institutional adoption of digital assets, particularly in the Euro Token initiative, which is managed by the Bank of Italy’s innovation centre.
Merone stated, “The Bank of Italy is keeping a close eye on the market and is in contact with many projects.” In terms of the fintech sector, tokenization will probably completely rework e-money. The fact that they are supporting the Italian digital assets market is fantastic
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