- With over 400,000 users, Conio is teaming up with Coinbase Prime to expand wallet support.
- Conio is highly active in the adoption of digital assets by institutions.
Poste Italiane and Banca Generali’s cryptocurrency wallet Conio have partnered with Coinbase, the businesses said on Monday, to provide Italian financial institutions with access to a diverse array of digital assets.
With over 400,000 users, Conio is teaming up with Coinbase Prime to expand wallet support for as many as 50 tokens by the end of 2023 and offer liquidity to institutions who deal in digital assets.
Banking on Institutional Adoption
The emerging Markets in Crypto Assets legislation and a broader fascination with topics like tokenization are propelling a surge of faith in crypto across European banks and organizations. As a result of increased demand from Italian banks for digital assets, Conio is expanding its custody capabilities.
Conio general manager Orlando Merone stated:
“Conio created the first multisig bitcoin wallet for smartphones in Italy, and we are now enlarging the custody capabilities because Italian banks are demanding more in the way of digital assets. We are adding EVM Ethereum Virtual Machine chains, and the target is to cover almost 60% of the digital assets market by next year.”
Additionally, Conio is highly active in the adoption of digital assets by institutions, most notably the Euro Token project managed by the Bank of Italy’s innovation center.
When it comes to the financial technology sector, tokenization will likely lead to a radical overhaul of digital assets. The Bank of Italy is actively monitoring the market and is involved in several programs, according to Merone.
In the last several weeks, Cathie Wood led ARK’s sales of Coinbase shares have been steady. This past Friday, it sold 480,000 shares, valued at $50.5 million, making it the biggest transaction since July.
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