Conio partners with Coinbase to provide digital asset liquidity for Italian financial institutions

Conio, a cryptocurrency wallet company backed by Italy's postal group Poste Italiane and Banca Generali bank, is partnering with cryptocurrency exchange Coinbase to offer a wider range of digital asset services to Italian banks and financial institutions.

Conio Partners with Coinbase to Provide Cryptocurrency Liquidity

According to a report by CoinDesk, Conio, a Bitcoin wallet provider with over 400,000 customers, is collaborating with Coinbase Prime to offer liquidity to digital asset institutions in Italy. They plan to expand wallet support to 50 tokens by the end of the year.

Orlando Merone, General Manager of Conio, stated in an interview:

Conio created the first multi-signature Bitcoin wallet for smartphones in Italy, and we are now expanding our custodial capabilities as Italian banks have higher demands for digital assets.

Additionally, Conio is also adding various blockchain services that support the Ethereum Virtual Machine (EVM), aiming to cover nearly 60% of the digital asset market next year.

Participation in Euro Stablecoin Issuance

Conio is also involved in the Euro token project supervised by the Innovation Center of Italian Banks. This project is based on an open blockchain system that allows banks and their customers to participate by issuing digital Euro tokens, stablecoins representing official deposit currency. Conio leverages its expertise and technology to create, issue, and redeem Euro tokens, as well as assist in managing their liquidity and ensuring their safekeeping.

Recently, Société Générale, the third-largest bank in France, launched its own stablecoin EURCV EUR CoinVertible, which is a stablecoin for all investors and complies with the EU's MiCA crypto regulations set to take effect next year.

Société Générale's Euro stablecoin EURCV is tradable on Bitstamp.