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Open banking also expands to the crypto sector. With what could be the first agreement of this kind in Europe, the American Mesh provides Conio with access to the main global platforms for the exchange of digital assets. The US fintech, which recently completed a $22 million Series A round and a $6.5 million strategic investment from PayPal Ventures, is integrated with more than 300 global exchanges.
The agreement will allow Conio’s 430,000 customers to directly connect to ten major platforms – Binance, Bitfinex, Bitsamp, Bybit, Coinbase, Houbi, Kraken, Kucoin, Okx, Robinhood -, some already available in the in-app section, while the others will be activated in the coming weeks. After this initial phase, the service will be expanded to other exchanges, will involve new assets and will be added further features that will allow integrated management of their accounts on the various platforms, based on an agreement that is configured as a true Open Banking for Bitcoin and digital assets.
With this operation, the Italian fintech owned by Poste Italiane and Banca Generali that offers a wallet for the custody of Bitcoin and digital assets, aims to simplify the classic bitcoin transfer process, eliminating friction. This involves the removal of obstacles and difficulties such as the use of QR codes, copy and paste operations of long and complex addresses, as well as the need for test transfers, also reducing the risk of errors that in the crypto world become irrecoverable.
The agreement also aims to further promote the adoption of secure custody solutions such as Conio’s, which uses a three-private key system, with only two needed to authorize transactions, allowing assets to be recovered even if one of the private keys becomes unavailable.
According to sector research carried out in Europe by Adan in collaboration with Kpmg with the aim of taking stock of the adoption of digital assets in Europe and which includes a sample of more than a thousand Italians, 19% of compatriots have already purchased cryptocurrencies and 11% are active or inactive holders of crypto assets. Of these, 66% use the most common exchanges to store bitcoins and their digital assets, instead of a personal wallet.
