According to the official press release, the company needed more than a year to complete its research and study projects which led to the introduction of these five new digital assets. Following this product upgrade, Conio users can purchase these cryptocurrencies directly from the Conio app.
In the official press release, Conio representatives talked about recent events in the digital asset sector and how they opened a period of consolidation that favours operators who focus on custody and security. They also mentioned the growing interest in new blockchains from private investors, institutional investors, and central banks, which contributed to their decision to expand their offering of in-app currencies.
Conio’s newly appointed General Manager cited by ffnews.com emphasised the growing interest of individuals and institutions in digital assets and web3, as well as recent regulatory efforts such as Europe’s MiCAr. In this context, Conio is positioning itself to meet the growing demand for access to the digital assets and custody sector.
Conio was founded in 2015 in San Francisco, and it launched the first Bitcoin Wallet for smartphones in Italy in a bid to bring crypto and digital assets within everyone’s reach. The company also created a multi-signature custody system that makes it easy and safe to hold digital assets and to make its technology available to major banks.
According to the company press release, Conio collaborated with institutional investors, including a few major Italian banks, which financed the project and supported various partnerships. The same source reveals that Conio has reached 400,000 private customers and that it offers banks and financial institutions integrated solutions for the management of cryptocurrencies and digital assets.
In December 2020, coindesk.com reported that Italy's Banca Generali announced the launch of a corporate and commercial partnership with Conio by acquiring a USD 14 million minority stake in the California-based business.
According to the same source, Conio also raised USD 3 million in a seed investment round at the end of 2015 led by Poste Italiane, and finalised a USD 3.5 million round in mid-2018 with various investors including Banca Sella. In early 2020, Conio put forward a wallet integration with Italian challenger bank Hype, which allowed around 1.2 million mobile banking customers to buy, sell, and store bitcoin from within their banking app.
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