Crypto Currency News

Major Italian bank launches crypto services

Banca Generali partnered with Conio to allow its 300,000 clients to operate with cryptocurrencies.

The new initiative of the Italian body will allow the purchase and sale of digital assets with credit or debit accounts, without the need to go to a crypto provider such as an exchange or trading platform. The bank authorities celebrated the project and remarked that it is a “safer” way to operate with cryptocurrencies.

“From that moment, customers can operate safely in an asset class that, otherwise, could be risky if it is incorrectly addressed”, said Riccardo Renna, COO of Banca Generali.

One of the peculiarities of the bank’s new crypto service is that the wallets will have a multi-sig solution (a type of digital signature that makes it possible for two or more users to sign documents as a group), which guarantees the possibility of getting the wallets back in case of succession.

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“We know that the future structure of financial markets will certainly be influenced by the blockchain technology continues working his way “he added Renna. In addition, the executive highlighted the joint work with Cono to create adaptations of the technology to the bank’s internal processes.

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