Italian Banca Generali to integrate Bitcoin with the help of fintech Conio


This new year 2022 will certainly be built around greater adoption of Bitcoin and cryptocurrencies. A reality accelerated by the entry into this market of large banks hitherto closed to anything that came close. But obviously, the customer is not far from being king in this sector. Because it is most often under pressure from the latter that they cross this border.. In order not to see the most fortunate among them move to other more crypto-friendly structures. A change in strategy visibly initiated by the Italian Banca Generali, with (almost) immediate effect.

The massive arrival of traditional banks in the cryptocurrency industry may seem surprising from the perspective of crypto investors. Quite simply because one of the reasons for this digital economy is to no longer have to operate with them. But a study published just a month ago by the company Visa asserts it as an obvious fact that has become impossible to deny. A growing number of their customers are considering choosing – or leaving – their banking establishment based on their exposure to this market. And that over the next year.

A critical situation for financial structures hitherto very distant and condescending towards a sector considered too risky. But yet to be classified in direct competition. With this little more technological innovation that ends up annoying when it imposes itself. To the point of seeing major banking players oppose the regulators, in the field of the regulation of this exposure to cryptocurrencies. While the number of banks in relation to this market begins to count more quickly when we turn to those who still refuse to be.

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The Italian Banca Generali adopts Bitcoin

A peloton in which the Italian bank Banca Generali has just officially joined. All of this recounted in a recent article published by the national news site We Wealth. Because the latter is in the process of finalizing an integration of Bitcoin and cryptocurrencies into its “home banking” offer. “ All with the help of the very young fintech specializing in the field of the name Conio, with 300,000 crypto wallets. A platform in which Banca Generali entered a year ago. With in his pocket, a check for 14 million dollars which makes him the main shareholder. And as an objective to open this market to its customers, able to create a bitcoin wallet directly on their bank accounts. This will make some maximalists ears creak …

“The integration will be finalized at the start of 2022. From that point on, clients will be able to safely operate on an asset class that could otherwise be risky if approached incorrectly. A further step towards the completion of our private hub. With services and platforms available to our bankers and their clients. “

Riccardo Renna, Director of Operations and Head of Innovation at Banca Generali

An offer which allows Banca Generali to develop some innovative functions. Like the possibility of “recovering the Bitcoin wallet in certain cases, such as that of an estate. “ This thanks to a system multi-signature whose objective is to guarantee the security of funds. With a security “third key” kept by the bank “on behalf of the customer. “And the assurance that this service can allow him to recover his precious BTC in any case. The rest is a matter of trust!

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The Banca Generali did not specify whether its clients will have the option of transferring their BTC to external wallets. Nor even, if they will be in possession of the precious private keys, the only real proof of ownership in the field of cryptocurrencies. It is not very risky to imagine that the answer is likely to be negative, either way.



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