Private Italian bank Banca Generali allowed customers to buy bitcoins

The feature comes courtesy of a partnership with the Conio cryptocurrency platform

04.01.2022 - 07:55

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What’s new? Banca Generali's private clients will be able to buy and sell bitcoins through the bank's application, according to the We Wealth report. Riccardo Renna, chief operating officer, said that the integration of the Conio platform will be completed in early 2022.

The We Wealth material

What is known about Banca Generali? The bank is one of the top ten insurers in the world. It serves high net worth individuals to whom it provides private banking services and wealth management advice. In December 2020, Banca Generali acquired a $14 million stake in Conio and has since allowed its clients to store bitcoins.

What did the bank’s representative say? Riccardo Renna said that the addition of the new feature is a part of a larger cryptocurrency project. He also emphasized the possibility of recovering a lost wallet:

“The recovery process is made possible by a third key which Banca Generali holds on behalf of our clients, allowing them to recover their wallets if needed. We believe that this is the real strength of our application and will set us apart from the rest of the market.”

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