Conio, a cryptocurrency wallet company partly owned by Poste Italiane and Banca Generali, will partner with Coinbase (COIN) to offer a wide range of digital assets to Italian banks and financial institutions, the companies announced on Monday.
Conio, which has over 400,000 customers, will work with Coinbase Prime to provide liquidity to institutions that support digital assets, while expanding wallet support to up to 50 tokens by the end of 2023.
“Conio has developed Italy’s first multisig Bitcoin wallet for smartphones. As Italian banks are demanding more and more for their digital assets, we are currently expanding our storage capabilities,” said Conio General Manager, Orlando Melone said in an interview. “We are adding the EVM Ethereum virtual machine chain and aim to cover almost 60% of the digital asset market by next year.”
Conio also focuses on digital assets, especially euro token project It is supervised by the Bank of Italy’s Innovation Center.
“Bank of Italy is working with many projects and is watching the market closely,” Melone said. “As for the fintech industry, tokenization will probably completely reshape electronic money. It is great that they are championing the digital asset sector in Italy.”
