Coinbase Riding Italian Crypto Wave With Bitcoin Wallet Conio Partnership
Portfolio Pulse from Khyathi Dalal
Coinbase Global Inc (NASDAQ:COIN) has partnered with Italian cryptocurrency wallet company Conio, owned by Poste Italiane and Banca Generali, to enhance liquidity and trading capabilities for a broad range of cryptocurrencies. Conio, with over 400,000 customers, will use Coinbase Prime to support up to 50 tokens by the end of 2023 and plans to expand its custody technology to Ethereum, Polygon, and Avalanche. The partnership aims to meet the growing demand for digital assets among Italian banks and financial institutions.
December 11, 2023 | 3:14 pm
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POSITIVE IMPACT
Coinbase's partnership with Conio to provide liquidity and wallet support for a broad range of cryptocurrencies could potentially increase its user base and trading volume, positively impacting revenue.
The partnership with Conio is likely to increase Coinbase's exposure to the Italian market and could lead to an increase in trading volume and revenue as it supports more tokens and caters to the demand from Italian banks and financial institutions. The positive impact is based on the assumption that the integration will be successful and that there will be a continued interest in digital assets among the target audience.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80