PayPal-backed Mesh and Conio Launch Europe’s First Open Banking Solution for Bitcoin

UTC by Steve Muchoki · 3 min read
PayPal-backed Mesh and Conio Launch Europe’s First Open Banking Solution for Bitcoin
Photo: Depositphotos

The Mesh and Conio’s integration is focused on Europe as it is well bolstered by the recently rolled out MiCA regulations.

Mesh, a United States-based web3 company enabling users to integrate with more than 300 crypto exchanges and wallets, has announced a strategic partnership with Conio, an Italian web3 company, to launch the first Europe-based open banking solution for Bitcoin (BTC). The newly launched solution, which is hosted on Conio’s platform, will enable thousands of users to seamlessly adopt Bitcoin.

Moreover, the integration of Mesh within the Conio platform will enable a direct connection with top crypto exchanges led by Bitstamp, Coinbase Global Inc (NASDAQ: COIN), Binance, ByBit, Kraken, and Bitfinex, among many others.

“People should have the freedom to choose their preferred solution for safeguarding their Bitcoin and digital assets. Our latest partnership with Mesh paved the way for Conio to become a comprehensive gateway to the entire crypto ecosystem, empowering even users who opt for global services to securely transfer their assets into custody with the simplicity of a tap,” Orlando Meone, the General Manager of Conio noted.

The use of Open Banking in the European market has been cited as the next major catalyst for digital assets adoption. Moreover, the European market has already begun enforcing the Markets in Crypto-Asset (MiCA) regulation framework to enable a secure and seamless adoption of Web3 protocols and digital assets.

According to Bam Azizi, the founder and CEO of Mesh, the integration with Conio will enable thousands of investors to seamlessly transfer crypto in Europe.

“Solutions like the Conio Custody model provide an excellent way for users, including those who are new to the field, to engage with crypto assets, shucked Mesh unlocks a new layer of security and functionality for those users without complicating the experience,” Azizi added.

Market Impact of the Mesh and Conio’s Integration

The cryptocurrency industry has expanded to every global market with more investors expected to adopt in the coming months. Already, the US Fed is expected to remain dovish and initiate much-anticipated interest rate cuts amid the upcoming general elections.

According to Tom Lee, the co-founder and head of research at Fundstrat Global Advisors, in Monday’s interview with CNBC, Bitcoin price is en route to reaching $150k by the end of this year.

As Coinspeaker previously pointed out, Bitcoin price will continue to experience a macro bullish outlook fueled by heightened institutional adoption. Furthermore, Bitcoin’s investment products have registered more than $15 billion in cash inflows year-to-date, compared to a $25 million cash outflow of Ethereum’s.

Despite the heightened Bitcoin’s selling pressure from the German government and the Mt.Gox distribution, BTC price has managed to close above $62k on the six-monthly candlestick. From a technical standpoint, Bitcoin price will continue in a bullish outlook in the coming months as the halving impact coupled with the institutional adoption gets stronger.

Bitcoin News, Cryptocurrency News, News
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