The CEO of the Commonwealth Bank of Australia stated that the bank is more concerned about the risks of missing out on crypto than those associated with its adoption.
The CBA is set to become the first of the big four banks in Australia to offer crypto-based services, after the company announced that it will support the trading of 10 digital assets directly via its banking app.
The CEO also suggested that there will be much more to come from the CBA’s crypto adoption play, as he highlighted that the bank sees many use cases from blockchain tech, along with strong demand from consumers.
While the CBA appears to be bullish on crypto and distributed ledger tech, the Australian Securities and Investments Commission (ASIC) has urged for investor caution while also noting that it is unable to oversee the sector.
