The Italian bank Banca Generali, which has assets worth $87 billion, will reportedly be allowing over 300,000 customers to buy and sell BTC sometime in early 2022, thanks to its partnership with Conio, a Bitcoin company. As soon as this integration is implemented, those 300,000 customers will be able to create a bitcoin wallet directly from their bank account.
We have Conio to thank for making this feature a possibility. Conio is a San Francisco-based fintech company founded by two Italians, and Banca Generali is one of its major investors. As such, it makes sense why these two companies are now working hand in hand.
Banca Generali and Conio finalized the mentioned partnership back in December 2020, and they will soon be launching their hard work within the year. According to a We Wealth report, after the Conio platform is successfully integrated within the Italian bank’s mobile banking app, customers will have “direct access to Bitcoin trading using the same environment that is already used in relation to other banking operations.”
The report continues by saying that the select customers will have the extra benefit of directly debiting or crediting their account when buying or selling Bitcoin without relying on third-party platforms or payment cards.
To reiterate, Banca Generali’s banking app clients will soon see the Conio feature integrated into their app, which will give them the ability to buy and sell bitcoin as conveniently as possible. For an increased level of security, the upcoming wallet will also feature a 2-of-3 multi-signature arrangement.
On the other hand, another financial institution called Hype Challenger Bank has also implemented Conio’s B2B offering. This feature allows clients to trade bitcoin conveniently and without hassle. In Hype’s case, their partnership with Conio introduces to clients the ability to transfer their Bitcoin to external wallets.
Banca Generali hasn’t mentioned whether its partnership with Conio will also enable BTC transfer to external wallets.
