The Australia's largest bank has announced the risks of not dealing in cryptocurrencies

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The Commonwealth Bank of Australia representatives believe that the institution should be involved in the development of the industry

The Australia's largest bank has announced the risks of not dealing in cryptocurrencies

24.11.2021 - 07:15

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What’s new? The Commonwealth Bank of Australia (CBA) Chief Executive Officer Matt Comyn spoke on Bloomberg TV. As part of the broadcast, he stated that the bank sees the risks of not participating in the cryptocurrency industry as greater than the risks associated with the introduction of digital assets.

The full version of the broadcast

“We see risks in participating, but we see bigger risks in not participating. But we also don’t think that the sector and the technology is going away anytime soon,” said Comyn.

What features will CBA provide to clients? According to the bank's CEO, the institution will soon allow its clients to trade cryptocurrencies using its own application. A total of around 10 assets will be available. Depending on the market situation and customer demand, the bank will add new features and options for dealing with cryptocurrencies.

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