Key Points
- Mesh and Conio have partnered to launch Europe’s first open banking solution for Bitcoin.
- The solution will facilitate seamless Bitcoin adoption and connect with major crypto exchanges.
U.S. web3 company Mesh, which allows users to connect with over 300 crypto exchanges and wallets, has formed a strategic alliance with Italian web3 firm Conio.
Their collaboration has resulted in the creation of Europe’s first open banking solution for Bitcoin (BTC), hosted on Conio’s platform. This pioneering solution aims to facilitate the smooth adoption of Bitcoin by thousands of users.
Integration with Top Crypto Exchanges
The integration of Mesh into Conio’s platform will establish a direct link with leading crypto exchanges. These include Bitstamp, Coinbase Global Inc (NASDAQ: COIN), Binance, ByBit, Kraken, and Bitfinex, among others.
Orlando Meone, the General Manager of Conio, stated that people should have the freedom to choose their preferred solution for safeguarding their Bitcoin and digital assets. He added that the partnership with Mesh has allowed Conio to become a comprehensive gateway to the entire crypto ecosystem.
Open Banking is seen as the next major catalyst for digital assets adoption in the European market. The European market has already begun implementing the Markets in Crypto-Asset (MiCA) regulation framework to enable secure and seamless adoption of Web3 protocols and digital assets.
Bam Azizi, the founder and CEO of Mesh, stated that the integration with Conio would allow thousands of investors to effortlessly transfer crypto in Europe. He added that solutions like the Conio Custody model provide a great way for users, including newcomers, to engage with crypto assets.
Market Impact of the Mesh and Conio Integration
The cryptocurrency industry has spread to every global market, with more investors expected to adopt it in the coming months. Tom Lee, the co-founder and head of research at Fundstrat Global Advisors, stated in a recent interview with CNBC that the Bitcoin price is on track to reach $150k by the end of this year.
The Bitcoin price is expected to continue its macro bullish outlook due to increased institutional adoption. 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 increased selling pressure from the German government and the Mt.Gox distribution, the BTC price has managed to close above $62k on the six-monthly candlestick. From a technical standpoint, Bitcoin price is expected to continue in a bullish outlook in the coming months as the halving impact coupled with the institutional adoption gets stronger.
