Conio, a crypto wallet company with over 400,000 customers and backed by Poste Italiane and Banca Generali, has joined forces with Coinbase to introduce a range of digital assets into Italian banks and financial institutions.
Thie partnership leverages Coinbase Prime’s liquidity support for institutions while expanding wallet capabilities to accommodate up to 50 tokens by the conclusion of 2023.
Conio-Coinbase Collaboration Details
Conio, renowned for creating the first multisig bitcoin wallet for smartphones in the country, is now broadening its custody capabilities. In addition, the demand for digital assets from Italian banks has propelled Conio’s collaboration with Coinbase Prime, enabling institutions to tap into a wider range of digital assets while reinforcing wallet infrastructure.
Moreover, the Conio-Coinbase collaboration sets a target to encompass EVM (Ethereum Virtual Machine) chains, intending to cover nearly 60% of the digital assets market by the upcoming year.
Furthermore, with over 400,000 customers, Conio’s expansion plans signify a proactive step towards catering to the increasing demand for diverse digital assets within Italy’s financial landscape.
Euro Token Project and Institutional Engagement
Conio’s involvement in fostering institutional adoption of digital assets extends to its active participation in the Euro Token project, which is overseen by the Bank of Italy’s innovation center. The project aligns with the Bank of Italy’s exploration and observation of various initiatives within the digital assets market, showcasing a growing interest and engagement from regulatory bodies in the fintech sphere.
Additionally, Orlando Merone, General Manager of Conio, expressed that the involvement in tokenization and the Euro Token project holds the potential to redefine e-money significantly within the fintech industry.
In conclusion, The Bank of Italy’s proactive approach in championing the Italian digital assets landscape further indicates a favorable outlook for the future of digital asset adoption and tokenization within the country’s financial framework.