Conio and Coinbase Join Forces to Revolutionize Italy’s Digital Asset Landscape

In a groundbreaking move set to reshape Italy’s digital asset ecosystem, Conio, a Milan-based fintech company, has announced a strategic partnership with Coinbase Prime, a branch of the prominent American digital asset company, Coinbase. This collaboration aims to significantly increase liquidity for Italian banks and financial institutions venturing into the world of digital assets.

Transformative Impact on Italian Banks

Conio, partly owned by Poste Italiane and Banca Generali, has established itself as a key player in Italy’s fintech sector, serving over 400,000 private clients and numerous financial institutions. With this new alliance, Conio intends to support up to 50 tokens by the end of 2023, marking a considerable expansion of its digital asset offerings.

The integration of Coinbase Prime as a liquidity provider is a significant milestone, set to broaden the spectrum of digital assets accessible through Conio’s platform. This move is particularly timely, considering the burgeoning interest and investment in digital assets across Italy and Europe.

Enhancing Custody Technologies

Conio is not only increasing its digital asset offerings but also advancing its custody technologies. Currently established for Bitcoin and Algorand, Conio is extending its custody solutions to Ethereum Virtual Machine (EVM) blockchains, including Ethereum, Polygon, and Avalanche. This development reflects the growing institutional interest in secure and diverse custody solutions amidst the rapid evolution of asset tokenization.

To bolster its commitment to security and compliance, Conio has partnered with Chainalysis, a leading US-based firm specializing in blockchain transaction analysis. This collaboration enables Conio to monitor transactions in real-time, reducing exposure to illicit activities and enhancing its risk and compliance program, all while maintaining a seamless 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.

With the digital asset landscape continually evolving, Conio’s partnership with Coinbase and Chainalysis positions it at the forefront of this transformation in Italy. The company’s focus on expanding its custody technology, coupled with its commitment to compliance and security, sets a new standard in the digital asset sector, promising a more inclusive and robust financial ecosystem for Italian banks and institutions.