Cryptocurrency is the future!!
According to the Commonwealth Bank of Australia, it is risky not to participate in the crypto ecosystem.
A referendum for cryptocurrencies? One of Australia’s largest banks, the Commonwealth Bank of Australia, believes it is riskier not to participate in the crypto ecosystem than to invest in it.
Commonwealth Bank of Australia affirms interest in the crypto ecosystem.
More and more large banks are slowly approaching the crypto ecosystem, but few of them are as vocal as the Commonwealth Bank of Australia. The bank had announced that it would start offering cryptocurrencies to its customers earlier this month. In addition, it confirmed an investment in its partner, the Gemini exchange platform, during the last week.
People have noted these initiatives, and the CEO of Commonwealth Bank of Australia, Matt Comyn, was asked about the bank’s crypto strategy in an interview with Bloomberg. According to him, when it comes to cryptocurrencies, the biggest mistake would be not to participate in the markets:
“We’re seeing a lot of customer interest, but we’re also seeing a lot of applicability, and we want to be part of this industry. We see risks regarding our participation but we also see the risks even greater s in fact not to participate . “
Cautious, Mat Comyn specifies that the interest of the Commonwealth Bank of Australia is limited to the crypto ecosystem and not to the asset class per se:
“It is important to clarify that we do not have an opinion on the price of the asset per se , as we see it as very volatile and speculative, but we also do not believe that the sector and the technology will disappear soon.”
A banking sector that is gradually thawing
As mentioned, the banking sector is slowly thawing when it comes to cryptocurrencies. In France, the Qonto bank recently authorized its clients to invest in crypto-assets … But with size limitations. For its part, Revolut confirmed earlier this month that it would launch its own cryptocurrency exchange platform.
Overall, bank customers who wish to interact with crypto businesses, however, can often experience difficulties. Many of them choose to block certain payments or have their customers fill out invasive questionnaires. The harmony between the banking sector and that of cryptocurrencies is therefore not yet a reality.