Why are we running this pilot?

We’ve seen growing demand for digital currencies from our customers, with a number of new players and business models innovating in this area.

Our customers have shared their concerns about some of the crypto services in market today, including the friction of using third party exchanges, the risk of fraud, and the lack of trust in some new providers.

Based on this, we’ve identified an opportunity to bring a simple and secure experience for our customers to buy, sell and hold crypto tokens.

This is an exciting first for Australian retail banks.

Can I join the pilot?

We’ll be running this as a pilot with a select group of retail customers. Selected customers will be contacted in the coming months with an invitation to participate in the pilot.

Numbers will be limited, and there will not be a waitlist. We’re planning to expand this to more customers over time; keep an eye on our social media and website for future announcements.

What features will the pilot support?

Customers will be able to buy, sell and hold selected crypto tokens. We’ve designed the pilot with up to 10 tokens on offer – including Bitcoin, Ethereum, Bitcoin Cash, Litecoin.

We plan to progressively rollout more features to more customers in 2022.

Our partners

We’ve partnered with Gemini and Chainalysis to help us deliver a simple and secure experience for our customers.

Gemini is a global leader with strong security and a track-record of serving large institutions. We will leverage Gemini’s crypto exchange and custody service and integrate it into the CommBank app through APIs.

We’ve also partnered with Chainalysis, a global leader in blockchain data and analytics to help our compliance teams monitor and mitigate the threat of crime through crypto exchanges.

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Things you should know

  • The terms and conditions for Crypto (PDF) should be considered before making any decision. 
  • Information provided is subject to change.
  • The information has been prepared without considering your objectives, financial situation or needs. Because of that, you should, before acting on the advice, consider its appropriateness to your circumstances.
  • The CommBank app is free to download however your mobile network provider charges you for accessing data on your phone. Find out about the minimum operating system requirements on the CommBank app page. Terms and conditions of the CommBank app are available on the app. NetBank access with NetCode SMS is required.
  • More information about our partner, Gemini, can be found on their website.
  • For more information on how we handle your personal information, please visit our Privacy Policy at commbank.com.au/privacy.