Banka Generali, a leading private from Italy, has strategies that will see the introduction of crypto amenities come 2021.
As per a report released on 15th December, the banking leaders has made a deal to partner cooperatively and commercially with Conio. Conio is a Fintech firm which deals with the provision of fiat monetary, fiscal institutions. It provides solutions for the management of digital funds along with wallets and custody.
Banca Generali spokesperson revealed to Cointelegraph that the bank has no intentions of unveiling its crypto exchange any time soon. He said that the bank would instead get into business with Conio, which will be a wallet.
Banca Generali is also reported to have plans laid to get shares in Conio in order to fund the firm’s growth and development. Its growth would mean that it can supply its products as part of the bank’s array of digital amenities which it delivers to its clients. The private banking giants, thus, took part in Conio’s stock funds rise by 14 million USD.
The reports on the Italian giant granting its clients introduction to BTC comes at a period when interest in Bitcoin has been rising. Square (NYSE:SQ), of which its Cash App supports Bitcoin transactions, has spent 1% of the company’s stock to get investment into cryptocurrency. Another company includes PayPal (NASDAQ:PYPL), providing crypto buying and holdings.
Conio takes pride as it claims to be the only Bitcoin (BTC) wallet founded in Italy after its creation in 2015. The company has established a trademark custodial tech that focuses on institutions such as financial and banking sector.
Conio had previously got into a collaboration with other key fintech banking institutions including Hype and Nexi Open Banking.
Apart from Banca Generali, other Italian banks have also announced its 2020 plans relating to the crypto sector. Banco Sella, a firm from Italy, unveiled in March this year its Bitcoin exchange services which would allow clients to trade and keep BTC through its Hype program.