In an exciting development set to transform Italy’s digital asset landscape, Milan’s Conio, a leading fintech company, has announced a strategic partnership with Coinbase Prime, an extension of the well-known American digital asset company, Coinbase. This collaboration aims to reshape liquidity dynamics for Italian banks and financial institutions as they navigate the world of digital assets.
Conio’s Fintech Dominance Set to Expand
As a key player in Italy’s fintech sector, Conio, partly owned by Poste Italiane and Banca Generali, serves over 400,000 private clients and numerous financial institutions. The newly revealed partnership with Coinbase Prime is a game-changer, propelling Conio’s ambition to support up to 50 tokens by the end of 2023, significantly expanding its digital asset portfolio.
The integration of Coinbase Prime as a liquidity provider is a major move, enriching the digital assets accessible through Conio’s platform. This strategic step comes at a time when interest and investment in digital assets are soaring across Italy and Europe.
Also Read: Cryptocurrency Regulations in Italy
Beyond Digital Assets
Conio is not just broadening its digital asset offerings but is also advancing its custody technologies. While currently established for Bitcoin and Algorand, Conio is extending its custody solutions to Ethereum Virtual Machine (EVM) blockchains, including Ethereum, Polygon, and Avalanche.
This move reflects the increasing institutional interest in secure and diverse custody solutions amid the evolving world of asset tokenization.
Ramping Up Security and Compliance Measures
In a strong commitment to security and compliance, Conio has partnered with Chainalysis, a leading US-based firm specializing in blockchain transaction analysis. This collaboration empowers Conio to monitor transactions in real-time, reducing exposure to illicit activities and enhancing its risk and compliance program—all while ensuring a smooth user experience.
Orlando Merone, General Manager of Conio, expressed pride in the partnership, stating, “Our goal is to become the most reliable partner for entities delving into digital assets. With Coinbase’s support, we can offer a secure on-ramp to this dynamic sector.”
Daniel Seifert, Vice President and Regional Managing Director, EMEA, Coinbase, echoed these sentiments, highlighting the shared values of trust, transparency, and security that underpin this collaboration.
“This partnership is not just about liquidity; it’s about propelling the industry forward in Italy,” Seifert commented.
Conio’s Vision
As the digital asset landscape evolves, Conio’s strategic alliances with Coinbase and Chainalysis position it at the forefront of Italy’s transformative journey. The company’s dual focus on expanding custody technology and fortifying security and compliance sets a new standard in the digital asset sector, promising a more inclusive and robust financial ecosystem for Italian banks and institutions.
