Our Euro Token project is on the launch pad.
The Euro Token project has been selected at the Call for Proposals 2022 by Fintech Milano Hub, the innovation center of the Bank of Italy.
The Conio’s Unit focused on the development of banking systems for digital currencies and assets, has presented its Euro Token Project: the universal digital euro standard that can be managed directly by participating banks.
The Project is based on an open blockchain system that allows banks and their customers to participate by issuing digital Euro Tokens (stablecoins) representing the official deposited currency.
The economic and social benefits of the progressive circulation of Euro Token in the banking system are evident:
- An open, universal and secure standard that can be shared by all participating banks and institutions.
- A highly efficient system that is fully transparent and compliant with both ECB regulations and national anti-money laundering supervision systems.
- Drastic reduction in costs, friction, and processing time for digital asset and currency transactions, collections, and payments.
- A platform open to the development of industrial, banking, insurance, and service financial solutions programmable on smart contracts.
- A native solution for developing highly efficient and interoperable applications and IoT (Internet of Things) systems.
The Euro Token Project involves the use of Conio’s proprietary know-how and technology for the creation, issue and redemption of Euro Tokens.
It will also manage the services designed to assist their circulation and, where required, ensure their safe custody.
Christian Miccoli, Co-Founder and CEO of Conio Inc, states: “We are delighted by the recognition from the Bank of Italy. It strengthens Conio’s determination, along with its banking partners, to develop and offer dedicated banking applications to the public for managing digital currencies and assets. These innovative, secure, transparent solutions fully comply with the provisions of the European Central Bank and national supervisory systems.”
