Cryptocurrencies will soon be bought on Commonwealth Bank

A new pilot program will soon allow Australians to purchase cryptocurrencies through the CommBank app. The program will start in the next few weeks and Aussies can purchase up to 10 coins such as Bitcoin, Ethereum, Litecoin, just to name a few. A wider launch with more features will soon be released in 2022.

Chief Executive of CommBank Matt Comyn said “We believe we can play an important role in crypto to address what’s clearly a growing customer need and provide capability, security and confidence in a crypto trading platform,”

Investing in crypto does involve financial risk as it’s unregulated and CommBank reassures that users will be warned before making an investtment.

CommBank hopes that other banks will soon follow suit.

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