The new partnership between Conio, a crypto wallet provider backed by Poste Italiane and Banca Generali, and Coinbase, the largest US crypto exchange, aims to bring more digital assets to the Italian banking sector.
Conio and Coinbase Join Forces to Offer Crypto Services to Italian Banks
The two companies announced today that they will work together to provide liquidity and custody solutions to institutions that want to offer crypto products to their customers.
Conio, which has over 400,000 users, will expand wallet support to include up to 50 tokens by the end of 2023, using Coinbase Prime as its liquidity provider.
Conio, which was founded in 2015 and claims to have produced the first multi-Bitcoin wallet for smartphones in Italy, is also involved in the Euro Token project, an initiative led by the Bank of Italy to explore the potential of issuing a digital euro on the blockchain.
Orlando Merone, Conio's chief executive, said the company was expanding its custody capabilities to meet demand from Italian banks looking to get more into the digital assets market.
He added that Conio has added support for Ethereum Virtual Machine (EVM) chains, which are compatible with the Ethereum network and host many popular tokens and decentralized applications.
*This is not investment advice.