Published
3 years ago on
December 15, 2020
Quick Take
1 minute read
- Cryptocurrency services are set to be introduced in 2021 by the private financial institution Banca Generali based in Italy.
- According to an announcement published earlier this week on the 15th of December, the Italian bank inked a new collaboration with a fintech business known as Conio.
Cryptocurrency services are set to be introduced in 2021 by the private financial institution Banca Generali based in Italy.
According to an announcement published earlier this week on the 15th of December, the Italian bank inked a new collaboration with a fintech business known as Conio. These provide traditional and financial institutions with solutions on how to manage crypto assets including custody and wallets.
The bank has said that they don’t intend to launch a crypto platform however any time in the near future. Instead, they are going to provide service in the new partnership with Conio as a wallet. For those that don’t know, the wallet was founded five years ago in 2015 and claims to be the first of its kind healing from Italy. The company has developed a proprietary custodial technology which specifically looks to institutions and banks.
On top of this, the institution has been acquiring a stake in the company in order to support its growth as a company as well as the distribution of its products for the future. To that end, Banca Generali has got involved with the company's share capital increase of $14 million.
Earlier this year, another Italian institution known as Banco Sella released its own bitcoin trading services which allowed users to buy, sell and hold the leading cryptocurrency through its platform known as Hype. Even though Banca Generali isn’t the first Italian bank to announce plans related to cryptocurrency in 2020, it will certainly be interesting to see where it will go in the coming year.
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