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Participating in the Euro Token project under the supervision of the Bank of Italy’s innovation center, Conio actively explores tokenization.
Conio, a cryptocurrency wallet company with partial ownership by Poste Italiane and Banca Generali, unveiled a strategic partnership with Coinbase (COIN) on Monday. The collaboration aims to introduce a broad spectrum of digital assets to Italian banks and financial institutions.
In forging a strategic alliance with Coinbase Prime, Conio, with a robust customer base exceeding 400,000, is committed to elevating liquidity for institutions involved in digital assets.
Simultaneously, the company sets forth ambitious plans to expand its wallet support, aiming to include up to 50 tokens by the culmination of 2023.
Europe’s banks and institutions are experiencing a surge in confidence in cryptocurrency, driven by factors like the forthcoming regulation of Markets in Crypto Assets and a widespread interest in concepts such as tokenization.
In an interview, General Manager Orlando Merone stated, “Conio created the first multi-signature Bitcoin wallet for smartphones in Italy, and we are now expanding the custody capabilities in response to the increasing demand from Italian banks for a broader range of digital assets. We are incorporating EVM Ethereum Virtual Machine chains to cover almost 60% of the digital assets market by next year.” Concurrently, con actively participates in institutional adoption, notably contributing to the Euro Token project under the supervision of the Bank of Italy’s innovation center.
GM GM!! #Crypto New’s: 🇮🇹 #Bitcoin wallet #Conio teams up with #Coinbase to bring #crypto to italian banks 🏦 🇮🇹 pic.twitter.com/x5IcvK6tjv
— UKCrypto🇬🇧 (@AlnerJosh) December 11, 2023
Merone noted, “The Bank of Italy remains engaged with numerous projects and closely monitors the market. Within the fintech sector, tokenization has the potential to substantially reshape e-money. It’s commendable that they are actively supporting the growth of the Italian digital assets space.”
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