Commonwealth Bank First in Australia to Offer Crypto Services

Customers will soon be able to buy, sell and hold crypto through the bank’s app.

Nov 3, 2021 at 2:27 a.m. UTC
Updated Nov 3, 2021 at 4:58 p.m. UTC

Commonwealth Bank will be the first in Australia to offer crypto services to customers, the bank said Wednesday.

  • The bank will offer a crypto exchange and a custody service in collaboration with Gemini and intelligence firm Chainalysis.
  • Customers will have access to 10 digital assets, including bitcoin, ether, bitcoin cash, and litecoin.
  • Commonwealth Bank will integrate Gemini’s crypto exchange into its app through an exclusive partnership, the bank’s CEO Matt Comyn said in the press release.
  • The offerings will start next week as a pilot. Commonwealth Bank will add features progressively.
  • Australia is the world’s third-largest adopter of crypto, an October survey found.

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Eliza Gkritsi is CoinDesk's crypto mining reporter based in Asia.