CBA plans to launch cryptocurrency services

Commonwealth Bank (CBA), along with Gemini and Chainanalysis is planning to introduce an app that allows users to buy, sell, and invest in cryptocurrency assets, residing in Australia. The app’s name is the CommBank app, and it will be available on all leading app stores, Google and Apple.

Through this app, the bank can leverage the Blockchain network’s custody service and Gemini’s cryptocurrency exchange services.

The pilot project is beginning in a few weeks, and it will be fully rolled out in 2022. The project will allow users to use Bitcoin, BTC Cash, LTC, Ethereum, and others.

This project has been planned, keeping the growing interest of digital currencies, in mind. CBA CEO Matt Comyn mentioned that this concept has given rise to both risks and opportunities, for businesses and customers alike.