Coinbase, Conio, Partner to Provide Crypto Services to Italian Banks

Last updated: December 11, 2023 06:00 EST
. 1 min read

Disclosure: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. By using this website, you agree to our terms and conditions. We may utilise affiliate links within our content, and receive commission.

Cryptocurrency wallet firm Conio, partly owned by Poste Italiane and Banca Generali, has partnered with Coinbase to give Italian banks and financial institutions access to digital assets.

Conio said it has added Coinbase Prime as a liquidity provider and the agreement between the two firms will give a secure way for Italian banks to meet the growing demand for digital assets accessing Coinbase’s liquidity.

“Our goal is to become the most reliable partner for banks, financial institutions, and companies looking to enter the world of digital assets,” said Orlando Merone, general manager of Conio in a press release.

“We are pleased to announce our collaboration with Conio to increase liquidity available to support Italian banks and financial institutions operating in the digital asset sector,” said Daniel Seifert, Vice President and Regional Managing Director, EMEA, Coinbase in a press release.

Conio was founded in 2015 in San Francisco by Christian Miccoli and launched an Italian Bitcoin smartphone wallet. Coinbase was launched in 2012 and is an American publicly traded company that operates a cryptocurrency exchange platform.

More Banks Integrating Crypto Services

More and more banks have started to integrate cryptocurrency into their banking services. Most recently the Bank of Italy announced a partnership with the Ethereum scaling team Polygon and crypto infrastructure provider Fireblocks to initiate a pilot program aimed at establishing a regulated platform for “institutional DeFi.