Banca Generali, a large Italian private bank, plans to offer cryptocurrency services in 2021. Banca Generali has entered into a commercial and business partnership with Conio, a fintech company that provides digital asset management to traditional financial institutions, according to an announcement on December 15. … solutions including wallets and storage.

A Banca Generali spokesman told Cointelegraph that the bank has no plans to launch a cryptocurrency exchange in the near future, but instead provides a “service with Conio as a wallet.”

Banca Generali will also acquire a stake in Conio to support the company’s growth and distribution of its digital services portfolio to its customers. Thus, the bank participated in a $ 14 million increase in Conio’s capital.

Founded in 2015, Conio claims to be the first Bitcoin (BTC) wallet from Italy. The company has developed a patented conservation technology for institutions such as banks. Conio has previously entered into partnerships with major financial technology banking platforms such as Hype and Nexi Open Banking.

Banca Generali is not the only Italian bank to announce its plans for cryptocurrency in 2020. In March 2020, Italy’s Banco Sella launched its bitcoin trading service, allowing customers to buy, sell and store bitcoins through the Hype platform.

Source: CoinTelegraph