Australia's Commonwealth Bank lets customers act directly via their app - Finance
Australia's Commonwealth Bank lets customers act directly via their app - Finance
The Commonwealth Bank of Australia (CBA), the country's largest bank, offers customers the opportunity to sell, sell and keep crypto-assets directly via their app. The bank has teamed up with the Gemini crypto exchange and the blockchain analysis company Chainalysis to offer crypto services.
Commonwealth Bank offers cryptodic services
The Commonwealth Bank (CBA), also known as Commbank, announced on Wednesday that "it will be the first bank of Australia, the customer's opportunity to buy, sell and maintain crypto-assets", which will be done directly via your Commbank app.
Australia's largest lender said that he has entered into a partnership with the Gemini crypto exchange based in New York and the Blockchain analysis company Chainalysis to offer crypto services. "Both partnerships have enabled the bank to develop a crypto exchange and custody service that is offered to customers through a new function in the app," said the Commbank. The bank's mobile banking app is used by around 6.4 million customers.
"The pilot project will begin in the coming weeks and CBA intends to gradually introduce more functions for more customers in 2022," said Commonwealth Bank:
CBA will offer customers access to up to ten selected crypto-assets, including Bitcoin, Ethereum, Bitcoin Cash and Litecoin.
The Commonwealth Bank found that according to its investigation, "a large number of its customers want to access crypto-assets as asset classes and already buy, sell and hold crypto-assets over a variety of crypto exchanges".
COMMBANK CEO Matt Comyn said: "We believe that we can play an important role in crypto in order to cover the clearly growing customer needs and skills and trust in a crypto trading platform ... CBA will use the crypto exchange and storage service from Gemini and integrate via APIs into the Commbank app."
The partnership with Chainalysis will help the bank's compliance teams "to monitor and reduce the threat of crime by the exchange of crypto-assets," explained Australia's largest bank.
What do you think of the Australian Commonwealth Bank, which offers cryptodistics in partnership with Gemini and Chainalysis? Let us know in the comment area below.
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