Coinbase Joins Forces With Conio to Bring Crypto to Banks


Conio, a cryptocurrency wallet provider, has joined forces with U.S. exchange Coinbase in order to offer digital asset services to Italian banks and financial institutions. The collaboration will enable Conio to use Coinbase Prime to provide liquidity and trading capabilities for a wide range of cryptocurrencies. By 2023, the fintech company hopes to offer custodial wallet support for nearly 50 different tokens.

The increasing demand for cryptocurrency adoption in Europe has been further bolstered by regulatory frameworks such as Markets in Crypto Assets (MiCA), and the rise of asset tokenization. Orlando Merone, Conio’s General Manager, explained that Italian banks were calling for more digital assets, which motivated the firm to create the first multi-signature bitcoin wallet for smartphones in Italy.

With over 400,000 current customers, Conio has a strong base of users and is partly owned by Italian companies Poste Italiane and Banca Generali. Furthermore, the company is actively involved in the Euro Token project, a central bank initiative to explore the use of a centrally issued digital euro. In an interview, Merone added that they are looking to increase their exposure to the cryptocurrency market by 60%, including EVM Ethereum Virtual Machine chains.

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