Mesh Fintech, a United States-based Fintech company, has partnered up with Italy’s crypto wallet Conio, to launch the first Bitcoin open banking solution in Europe.
Concerning the collaboration, Bam Azizi, Founder and CEO of Mesh said, “Open banking is Europe’s next major catalyst for digital asset adoption, and with our partnership with Conio, we are deploying the infrastructure to make safe and seamless aggregation and crypto transfers possible for hundreds of thousands of users in the region.”
He continued, “Solutions like the Conio custody model provide an excellent way for users, including those who are new to the field, to engage with cryptocurrencies, while Mesh unlocks a new layer of security and functionality for those uses without complicating the experience.”
PayPal digital payment platform, invested in Mesh with a $6.5 million investment, following Mesh’s successful completion of a $22 million Series A funding round. Meanwhile, Poste Italiane (PST.MI), the Italian postal service, and Banca Generali (BGN.MI), the asset manager, backs Conio’s crypto wallet.
Mesh Fintech Partner Conio Wallet
The partnership between the two platforms will allow Conio’s 430,000 Italian customers to access 10 different crypto trading platforms including, Coinbase, Okx, Bitfinex, Bitstamp, Binance, Kucoin, Bybit, Robinhood, Houbi, and Kraken, through the Conio App. Other exchanges will be made available in weeks to come.
Conio users will be able to link their Bitcoin wallets with any crypto exchange platform of their choice. Mesh will serve as a link between the Conio users and the available crypto exchanges.
According to the two companies, the partnership deal aims to deliver on two core objectives.
Firstly, the collaboration will help to streamline the BTC transfer process by eliminating difficulties like scanning QR codes and copying and pasting long and complex wallet addresses which will in turn reduce the chances of transferring funds to the wrong addresses.
The platforms involved also claim that the partnership will increase the adoption of Conio’s secure custody solutions. Conio uses a three-private-keys system while ensuring that assets in the wallet remain accessible even if one of the private keys becomes unavailable.
In a similar partnership arrangement, STEPN, a Web3 lifestyle app collaborated with Adidas to launch a limited-edition NFT collection called STEPN x Adidas Genesis Sneakers.
