Crypto Adoption Boom: Large Banks Launch Crypto Trading Services

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The mass adoption of digital assets has been one of the main goals that the crypto industry set a while ago.

Things are going great in this direction, and the latest reports only come to confirm this.

Large banks are launching crypto trading services

Large banks have been sitting aside from the crypto space long enough, according to the latest reports.

Now, it’s been just revealed that they are diving into the world of crypto.

The online publication the Daily Hodl notes that Commonwealth Bank (CBA), which is the biggest bank in Australia, says it will be the first in the nation to allow customers to buy, sell and hold cryptos.

According to official lnotes, there’s a pilot program that is offering crypto directly to customers via the bank’s primary app that is about to roll out.

It’s also important to note the fact that this is a part of a new partnership with crypto exchange Gemini and blockchain analytics firm Chainalysis.

It’s also been revealed that a group of savings banks in Germany is reportedly testing a trading network that would allow 50 million customers to buy and sell Bitcoin (BTC), Ethereum (ETH), and other digital assets.

More than that, according to the reports coming from the online publication the Daily Hodl, the Swiss subsidiary of BBVA now offers digital accounts to its customers to let them trade BTC and ETH.

The same online publication mentioned above also notes what is happening in the US. Here, financial giants Bank of New York Mellon and Fidelity are offering crypto services to large institutional clients.

It’s been also revealed that important banks in the US are the slowest ones to bring digital assets to retail customers, but the same online publication notes that this will certainly change during 2022.

You should check out the complete article that they posted in order to find out more details about what is going on.

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An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.