Banca Generali, the Italian bank that provides private banking and wealth management services to high-net-worth individuals, Bitcoin (BTC) will allow them to buy and sell.
According to the We Wealth report, Banca Generali, which has approximately $87 billion in assets and more than 300,000 customers, will form a partnership with Bitcoin mobile wallet Conio to serve its customers.
Banca Generalwas already among the major investors of Conio, a venture founded in San Francisco, California.
The bank’s customers will be able to create a Bitcoin wallet from their mobile banking applications. Customers can receive funds from their bank accounts, debit or credit cards or loans in their accounts via wallet. bitcoin they can buy and sell.
To improve security, the Bitcoin wallet in Banca Generali’s mobile banking app will be multi-signature, according to Riccardo Renna, the bank’s chief operating officer and head of innovation.
“We worked with Conio on an innovative multi-signature custody solution that provides the possibility of wallet recovery in certain situations such as custody of bitcoins.
This is possible because Banca Generali holds the third security key on behalf of the client and allows it to be retrieved if necessary.”
Banca Generali bought a stake in Conio in December 2020. The bank’s CEO, Gian Maria Mossa, had stated at the time that the partnership would allow the bank to expand the range of services it offers.
“Banca Generali’s agreement with Conio means expanding the services offered to our customers and collaborating with an innovation-driven partner. Thus, we can continue to develop our open banking platform by expanding our offering with industry-leading innovative solutions.”
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