A large Australian bank CBA will offer users crypto tools

It will be the first financial institution in the country to allow transactions with virtual assets

03.11.2021 - 09:45

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What's new? A large financial conglomerate from Australia, Commonwealth Bank of Australia (CBA), will be the first in the country to offer clients cryptocurrency transaction tools. This is reported in the institution’s statement.

CBA Press Release

What tools will the bank offer users? Commonwealth Bank will allow customers to exchange cryptocurrencies, as well as store them in a custodial wallet. 10 virtual currencies, including Bitcoin and Ethereum, will be available for transactions.

The pilot launching of the toolkit is scheduled for next week. At the same time, the first clients will get access to it.

Who will help the bank? Gemini, a well-known cryptocurrency exchange, will assist the Australian bank in the implementation of the project. The platform's tools will be integrated into the conglomerate's mobile application.

What is known about the bank? CBA is one of the top 4 largest banks in Australia. The conglomerate has not always treated cryptocurrencies positively. In 2018, it banned users from buying digital assets from credit cards.

News source on the Sydney Morning Herald website

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