Leading Italian private bank, Banca Generali is getting ready to introduce cryptocurrency services later in 2021. Consistent with a 15th Dec. official announcement, the bank in collaboration with Conio – a fintech firm offering traditional financial institutions with solutions for managing digital assets along with wallets and custody.
A spokesperson for Banca Generali added that the bank doesn’t decide to launch a cryptocurrency exchange within the near future, but rather offer “service with Conio as a wallet.”
Banca Generali will also acquire a stake in Conio to support the company’s growth and therefore the distribution of its products as a part of the Bank’s range of digital services offered to its users. As such, the bank has participated in Conio’s share capital hike of $14 Mln.
Founded earlier in 2015, Conio claims to be the primary Bitcoin [BTC] wallet from Italy. The firm has developed proprietary custodial technology targeting institutions like banks. Within the past, Conio has established a partnership with some leading fintech banking platforms like Hype and Nexi Open Banking.
Banca Generali isn’t the sole Italian bank announcing its cryptocurrency-related plans within this year. Earlier in March this year, Italy’s Banco Sella launched its own Bitcoin trading service, permitting its users to purchase, sell and store Bitcoin via its Hype platform.