The Italian Bank – Banca Generali, will allow bitcoin purchases later this year, joining plenty of other banks in their plans to allow clients to trade BTC as we can see more in today’s Bitcoin latest news.
Banca Generali is preparing to enter into crypto and bitcoin trading services in early 2022. these services will be enabled through an integration with Conio which is a BTC wallet and exchange app. Financial magazine “We Wealth” provided more details on the bank’s new services last month and it seems that Banca’s 300,000 customers will be able to create a BTC wallet straight from their bank accounts with the help of Conio. The former already invested millions of dollars in it which has locations in both Italy and San Francisco.
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Both companies initiated their partnership in December of 2020 and planned to launch services in 2021. however, the chief Operation officer at Banca Riccardo Renna is confident that the project will launch earlier this year:
“From that moment on, customers will be able to operate safely on an asset class that could otherwise be risky if approached incorrectly.”
The new services provide an advantage of buying BTC by funding debit or credit accounts rather than using a third-party payment provider but also features a multi-sig wallet solution for increased security and to ensure wallet recoveries which are possible in the case of succession. Renna said:
“We know that the future structure of the financial markets will certainly be influenced by the blockchain technology that continues to make its way. We are working with Conio at various tables to study possible adaptations of the blockchain to our processes and systems.”
A lot of banks are sharing their plans of adopting Bitcoin wallet services in the past weeks. Some of the most notable ones are the German Savings Bank Association that has 400 banks across the country and their services could give easy access to crypto services to more than 50 million people. Right after, the two other major German banks announced crypto wallet integration plans including Volks-und Raiffeisenbank and Commerzbank. A New Jersey-based retail bank partnered with Bakkt to start providing crypto services to its users.
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