Commonwealth Bank (CBA) is collaborating with Gemini and Chainalysis to offer crypto services to customers.
The multinational bank becomes the first Australian financial establishment to support crypto offerings.
“In looking at ways that we can support our customers, we have made the strategic decision to form an exclusive partnership in Australia with Gemini, a global leader with strong security and a track-record of serving large institutions. CBA’s CEO Matt Comyn said in a press release.
CBA will incorporate Gemini’s crypto exchange platform into its app through APIs, allowing customers to trade up to 10 cryptocurrencies. Including bitcoin, bitcoin cash, ethereum, and litecoin.
Application programming interface (API) is an intermediary software that allows two applications to interact seamlessly.
Comyn added: “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.
Gemini’s Global Head of Business Development, Dave Abner, claims the partnership with CBA will “unlock access to cryptocurrency investments” for more Australians.
According to the official press statement, Crypto services IT company Chainalysis will provide cybersecurity and analytics assistance to CBA.