Bitcoin Wallet Conio, Coinbase Team Up to Bring Crypto to Italian Banks

Bitcoin Wallet Conio and Coinbase have formed a partnership to introduce cryptocurrency services to Italian banks. Conio, which is partially owned by Poste Italiane and Banca Generali, will collaborate with Coinbase Prime to offer liquidity for institutions dealing with digital assets. They also plan to expand wallet support to accommodate up to 50 tokens by the end of 2023. This collaboration comes as European banks and institutions exhibit growing confidence in the crypto sector, partly due to the upcoming Markets in Crypto Assets regulation and increasing interest in tokenization. Conio aims to cover around 60% of the digital assets market in Italy next year by adding EVM Ethereum Virtual Machine chains to their offerings. The company is also actively involved in the institutional adoption of digital assets, including the Euro Token project overseen by the innovation center of the Bank of Italy.