Coinagea fintech company specializing in building digital currency and asset bank management systems, has launched its Euro Token Project, a universal standard of digital euros that can be issued and managed directly by participating banks.
Coinage and its Euro Token Project
According to what Conio explained to us, the Project is based on one open blockchain, which banks and their customers can join. This way, they can create Euro Token digitali (stablecoins) which correspond to the official currency deposited. There would therefore be various economic and social benefits deriving from the diffusion of Euro bank tokens.
First, this project proposes one open, universal and secure standardshared by all participating banks and institutions. Furthermore, it would turn out to be a highly efficient, totally transparent, totally compliant with ECB standards and individual national anti-money laundering supervisory bodies.
Conio explains that this system would allow for a drastic reduction in the costs, frictions and times of the transaction, collection and payment processes of digital assets and currencies. Furthermore, it would be a totally open platform for the development of financial solutions industrial, banking, insurance and services, programmable on smart contracts. And it would be a native solution for the development of highly efficient interoperable IoT (Internet of Things) applications and systems.
Il Progetto Euro Token uses Conio’s know-how and proprietary technology for the creation, issue and redemption of Euro Tokens. It will also provide the necessary services to facilitate the circulation of the Euro Tokens and – if requested – to guarantee their custody.
Christian Miccoli, Co-Founder and CEO of Conio Inc, he says: “We are delighted with the recognition given to us by the Bank of Italy. It strengthens the determination of Conio and its banking Partners in developing and offering to the public banking applications dedicated to the management of currencies and digital assets. Innovative, secure, transparent and fully compliant solutions with the provisions of the European Central Bank and individual national supervisory systems.”
More information on the Conio website.