Conio and Mesh joined in collaboration and, after receiving a $6.5 million investment from PayPal Ventures, are launching Open Banking for Bitcoin in Europe.
This will be the first of its kind, which means that users will be able to connect their Bitcoin wallets directly to major crypto exchanges. But what does this mean for customers?
Conio is an Italian fintech that was the first to create an Italian wallet for Bitcoin. It’s supported by Poste Italiane and Banca Generali. Mesh is an American fintech with integrations on over 300 exchanges.
Their latest collaboration is bringing a huge amount of change to the accessibility of cryptocurrency.
Who is Involved?
PayPal is a payment platform that’s highly regarded worldwide and used in a number of different industries. It offers security and convenience when paying online.
Take online casinos for example, PayPal is a trusted payment method in Canada and helps to make the process of both depositing and withdrawing funds simple and secure.
It’s also a popular method for online shopping, food deliveries and other online payments. Paypal Ventures is an area of PayPal that focuses on investments for the company.
PayPal Ventures is commonly known for finding and backing innovative startups that align with PayPal’s overall mission, which is to make transactions for both people and businesses more efficient and accessible.
Conio has quickly become a strong contender in the world of cryptocurrency. It’s a company that’s known for its user-friendly crypto wallet solutions and is striving to make digital currencies accessible to the average customer.
With this in mind, Conio has created a secure and easy-to-use platform that allows customers to buy, sell, and manage their cryptocurrencies. Their goal is to simplify cryptocurrency and make it more accessible to everyday users.
Mesh’s focus is more on blockchain technology and integrating the technology into more traditional financial systems. The company is focused on connecting traditional finances with more modern technology and currencies, making payments more efficient, accessible, and secure.
Integrating Mesh into the Conio App means that customers will be connected to major cryptocurrency platforms including Coinbase, Binance and Kraken. Additionally, Mesh, being backed by PayPal Venture, boosts the progression of this project even more.
It also helps to build credibility for both companies working with such a highly regarded financial company like PayPal. This is only the beginning of this collaboration, with the company already having plans to expand into new assets and features for customers in the Conio app.
The Aim of this Collaboration
With the collaboration of these two companies, as well as the involvement of PayPal ventures, the industry can expect some exciting changes in the cryptocurrency world.
One of the main objectives, as well as something that you can expect to see first, is the simplification of Bitcoin transfers and the reduction of the risk of human error and the loss of funds.
Additionally, their aim is to promote secure custody solutions, making it more possible to retrieve lost funds if you are unable to access your account. Conio uses a three-private key system that allows the recovery of lost assets, even If one key becomes inaccessible.
Many Bitcoin users purchase Bitcoin and lose access to it. It’s estimated that 20% of circulating bitcoin could be stuck in locked wallets. This is why it’s more important than ever to raise awareness around security and educate users on how to secure and access their cryptocurrency.
What Can Users and Customers Expect?
This collaboration has its users in mind, creating an overall better experience for users buying, selling, or storing cryptocurrency. For customers of Conio, or those looking to enter the world of Cryptocurrency, with this collaboration, you can expect:
- Financial opportunities: When it comes to buying, selling and exchanging cryptocurrency, this collaboration will provide more options and opportunities for its users. It also helps users to choose reliable and good-quality cryptocurrency exchanges.
- More convenience: With a wide range of cryptocurrency platforms integrated with the app, users can access a number of different exchanges all in one place. Additionally, customers will be able to instantly transfer any bitcoin they buy straight into their Conio wallet. This eliminates the task of scanning QR codes or inserting your digital wallet address, which can easily lead to mistakes.
- Increased Trust and Security: With Mesh’s expertise in blockchain technology, users can expect a more secure and efficient experience using Conio. Additionally, Conio has measures in place to protect its customers when it comes to recovering accounts and cryptocurrency. This can provide peace of mind for users.
Ensuring a Positive Experience
While this is an exciting announcement for anyone involved with the cryptocurrency industry, it’s still important for users to be responsible when it comes to purchasing, exchanging, and selling cryptocurrency. Therefore, users should:
- Keep up to date with the latest announcements and trends: Cryptocurrency is a fast market with a number of different factors that can quickly change its price, therefore it’s important for you to stay on top of the latest news. This is the best way to make more informed decisions.
- Budget for investments: It’s also important that you’re only investing funds that you can afford to use. This is especially important when it comes to cryptocurrency, as the market can be especially volatile.
- Be cautious with your information: Unfortunately, there are a number of online scams that are centered around cryptocurrency. It’s essential that you’re always being cautious. This means protecting your privacy online and ensuring your digital wallets are secure, using platforms like Conio, which is a great and reliable place to store your funds.
In summary, the Conio and Mesh agreement is a huge development in the fintech industry. It will completely change the way customers buy, sell, and exchange cryptocurrency, providing a much more secure, convenient, and accessible way to do so.
It also helps to introduce the world of Bitcoin and cryptocurrency to your average person and creates investment opportunities for them.