Italian bank Banca Generali plans to start offering bitcoin trading services from early 2022. This should be possible by integrating the Conio wallet app. A report from the financial magazine Wealth consult the details of the new services offered by Banca Generali. Consequently, thanks to Conio, the 300,000 clients of Banca Generali will be able to create a Bitcoin wallet directly from their bank accounts. The Bank has already invested several million US dollars in Conio. The fintech is based in both San Francisco and Italy.
We will complete the integration in early 2022. From that point on, clients will be able to safely trade in an asset class that could be risky if approached incorrectly. For us, this is another step to complete our private center with services and platforms available to our bankers and their clients.
said Riccardo Renna, director of operations and director of innovation at Banca Generali Can. The bank’s plans include the full integration of Conio into the Banca Generali mobile banking application. Then customers will have direct access to buy and sell Bitcoin. So this happens in exactly the same environment that you already know from your other banking transactions.
Soon also Bitcoin wallet on Sparkasse?
This also offers the advantage that the purchase and sale of Bitcoin is debited or credited directly to the checking account. Therefore, it is not necessary to pass on data to third parties. According to Renna, virtually all clients are guaranteed the option to use their own wallets. However, Banca Generali constantly monitors the extent of Bitcoin’s exposure relative to its assets to protect it from undue risk.
In Germany too, plans by banks to offer encryption services are taking shape. In addition to Sparkasse, Commerzbank and Volks- und Raiffeisenbank are also working on corresponding projects.