Banca Generali acquired a stake in Conio, Inc., a Milan, Italy-based fintech and cryptocurrency services provider.
Banca Generali acted as main investor in a Conio Inc. capital increase operation approved for a total of USD 14m. The deal also includes a commercial distribution agreement to start offering Conio’s services to Banca Generali’s customers in 2021.
Founded in 2015 by Christian Miccoli and Vincenzo Di Nicola, Conio is a fintech company operating in the cryptocurrency industry. As a wallet provider, the company offers custody, negotiation and reporting services currently focusing on Bitcoin.
Listed on the Milan Stock Exchange since November 2006, the Bank manages assets of over €70.4 billion on behalf of over 300,000 customers (figures as at 30 September 2020). Banca Generali adopts an open-architecture model availing of the best international managers and operates according to an open-banking approach based on advanced digital tools. Since 2019, Banca Generali has been operating in Switzerland through BG Valeur, offering personalised advisory and management services.