Does Commonwealth Bank have a cryptocurrency app?

Commonwealth Bank has announced it will become the first major Australian bank to allow customers to buy, sell and hold cryptocurrency through its products. The bank issued a statement on Wednesday, saying it had partnered with crypto exchange regulator Gemini to design a service for the CommBank app.

Will Commonwealth Bank restrict payments to crypto exchanges?

Register Now Commonwealth Bank (CBA) will apply partial restrictions to payments to cryptocurrency exchanges as a means of protecting customers from scams. The Australian bank announced on Thursday that it will decline "certain payments" to crypto exchanges or hold them for a period of 24 hours, a time period which it said could vary.

Is CommBank Australia's first crypto bank?

Commonwealth Bank (CBA) has today announced that it will become Australia’s first bank to offer customers the ability to buy, sell and hold crypto assets, directly through the CommBank app. CBA has partnered with one of the world’s largest regulated crypto exchanges and custodians, Gemini, and leading blockchain analysis firm, Chainalysis.

Why did Commonwealth Bank enter the crypto space?

Discussing the bank's motivation to enter the crypto space, Commonwealth Bank CEO Matt Comyn said the organisation had seen a large proportion of its customers – especially the younger demographic – wanting to access crypto assets.