Crypto wallet company, Conio will leverage the features of Coinbase Prime to enhance liquidity and expand trading capabilities for a broad range of cryptocurrencies.
What Happened: Cryptocurrency wallet company, Conio announced its partnership with Coinbase Global COIN. Conio is partly owned by Italian firms Poste Italiane and Banca Generali. The partnership aims to introduce digital assets to Italian banks and financial institutions through Conio, which currently has over 400,000 customers.
The collab with Coinbase Prime will enable liquidity for institutions catering to digital assets and provide wallet support for up to 50 tokens by the end of 2023.
Conio is also looking to provide its already established custody technology to Ethereum, Polygon, and Avalanche. It currently offers services to Bitcoin and Algorand. Additionally, there are plans to integrate Ethereum Virtual Machine (EVM) compatible chains, aiming to encompass approximately 60% of the digital assets market by the year 2024.
Why Does It Matter: Milan-based Conio general manager Orlando Merone said as reported by CoinDesk, “Conio created the first multisig bitcoin wallet for smartphones in Italy, and we are now enlarging the custody capabilities because Italian banks are demanding more in the way of digital assets.”
European banks and institutions are riding the crypto wave with the Markets In Crypto Assets (MiCA) regulation and a rising interest in tokenization. Conio is also involved in the Euro token project which is handled by the innovation center of the Bank of Italy.
Coino Background: Coino was the first company to launch its first Bitcoin wallet for smartphones in Italy in 2015. Coino also has a Convert feature on its app enabling users to convert one digital asset into another within the platform.
In 2H23, Coino expanded its collaboration with Chainalysis to strengthen compliance and due diligence.
In recent months, it added many new cryptocurrencies to its wallet which includes Ripple, Solana, Polygon, Polkadot, and Chainlink. Stablecoin USDC and Ethereum, Cardano, Dogecoin, Litecoin, Avalanche, and Algorand are Coino’s core offerings
Now Read: Solana's Own Meme Coin, Up 5700% This Year, Is 'Heading Into A Correction Period:' Crypto Analyst
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