Banca Generali plans to offer crypto services in 2021. To do this, she has entered into a partnership with an Italian storage service provider.
The large Italian private bank Banca Generali plans to offer cryptocurrency services in 2021
According to an announcement made on December 15, Banca Generali has entered into a corporate and business partnership with Conio. This is a fintech company that offers traditional financial institutions solutions for managing digital assets, including wallets and custody.
A spokesman for Banca Generali told Cointelegraph that the bank has no plans to launch a cryptocurrency exchange in the near future. Rather, they want to offer a „service with Conio as a wallet“.
Banca Generali will also acquire a stake in Conio in order to support the growth of the company and the distribution of its products as part of the bank’s digital service offering to its customers.
The bank thus participated in Conio’s capital increase of US $ 14 million
Conio was founded in 2015 and claims to be the first Bitcoin ( BTC ) wallet made in Italy. The company has developed proprietary custody technology aimed at institutions such as banks. Conio has previously entered into partnerships with major fintech banking platforms such as Hype and Nexi Open Banking .
Banca Generali is not the first Italian bank to announce plans related to crypto in 2020. In March 2020 , Italian Banco Sella launched its own bitcoin trading service that allows customers to buy, sell and store bitcoin through their platform Hype.