Australia’s CBA leads industry to offer in-app crypto trading
By Paulina Duran
SYDNEY (Reuters) – Commonwealth Bank of Australia will flip into the nation’s first to offer retail purchasers crypto firms, Australia’s largest monetary establishment acknowledged on Wednesday, signalling a change from the sector that had refused to do enterprise with cryptocurrency suppliers.
Starting with a pilot this 12 months, Commonwealth Bank will companion with Gemini Trust Company LLC, a New York-based crypto change, to offer trading in about ten cryptocurrencies, by its banking app, which is utilized by about 6.4 million shoppers.
The switch stands in distinction with CBA’s three smaller buddies, National Australia Bank (NAB), Westpac Banking Corp and Australia and New Zealand Banking Group Ltd which in September confronted criticism for refusing to do enterprise with cryptocurrency suppliers.
At the time, Commonwealth Bank Chief Executive Matt Comyn had …