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Banca Generali announced that in a bid to support the growth and development of Conio as well as the distribution of its digital products to its customers, they will acquire a $14 million minority stake in the crypto firm.
Banca Generali, one of the biggest private banks in Italy has announced plans to introduce crypto services to its customers next year. In an official press release, the Italian bank revealed that it has partnered with Conio, also an Italian crypto wallet provider, to offer its services to its customers.
Banca Generali in the press release highlighted the significant growth of digital currencies across the country and the globe as demand for crypto wallets in the country had seen an unprecedented rise. The bank therefore is looking to expand its services with the partnership and capture the cryptocurrency market in the country.