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Banca Generali offers its customers direct BTC purchases

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Italian bank Banca Generali plans to start offering BTC trading services from early 2022. This should be made possible by integrating the Conio wallet app. A report from the financial magazine We Wealth please refer to the details of the new services offered by Banca Generali. Accordingly, thanks to Conio, the 300,000 customers of Banca Generali will be able to create a BTC wallet directly from their bank accounts. The Banca 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 operate in an asset class that could be risky if approached incorrectly. For us, this is another step towards completing our private hub with services and platforms available to our bankers and their customers

said Riccardo Renna, Chief Operation Officer and Head of Innovation at Banca Generali Wealth. The bank’s plans envisage fully integrating Conio into Banca Generali’s mobile banking app. Then customers will have direct access to buy and sell BTC. So this happens in exactly the same environment that you already know from your other banking transactions.

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This also offers the advantage that the purchase and sale of BTC is debited or credited directly to the checking account. It is therefore not necessary to pass on data to third parties. According to Renna, practically all customers are guaranteed the option of using their own wallets. However, Banca Generali constantly monitors the extent of the BTC exposure in relation to its assets in order to protect it from excessive risk.

In Germany, too, the banks’ plans to offer crypto services are taking shape. In addition to the Sparkasse, Commerzbank and Volks- und Raiffeisenbank are also working on corresponding projects.

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All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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