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.

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

• 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.