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Cloud Mining Worth It? Commonwealth Bank of Australia Will Provide Crypto Transactions

Cloud Mining Worth It? Commonwealth Bank of Australia Will Provide Crypto Transactions

​Is cloud mining worth it? According to the Australian Financial Review, the Commonwealth Bank of Australia (CBA) is planning to integrate cryptocurrency into its digital applications, and the bank will announce the ability to buy and hold Bitcoin and other digital assets. This news undoubtedly makes the future of cryptocurrency brighter. Is cloud mining worth it? The Commonwealth Bank may also conduct public transactions with the US-based exchange Gemini and blockchain analysis company Chainalyis, both of which will provide support for its application integration.

The Commonwealth Bank of Australia (CBA) will process a cryptocurrency transaction service for 6.5 million users via its mobile app.


CBA will become the first bank in Australia to support cryptocurrency. Blockchain Australia said that the other “big four” banks including National Australia Bank (NAB), Australia and New Zealand Banking Group (ANZ), and Westpac (Westpac) "Inevitable" will soon follow this move. Is cloud mining worth it? This move shows the bank's confidence in the prospects of cryptocurrencies.

According to a statement on November 3, CBA has reached a cooperation with Gemini crypto exchange and blockchain analysis company Chainalysis to launch its crypto service. The bank will launch a pilot program for a limited number of customers in the coming weeks before the full-service launch in 2022. Is cloud mining worth it? Its banking application will support 10 types of encrypted assets, and currently supports encrypted digital currencies BTC, ETH, BCH, and LTC.

Steve Vallas, CEO of Blockchain Australia, said the move was "very important" because Australia's four major banks "consolidated our domestic and international reputation as a financial service destination."


Is cloud mining worth it? It is reported that the Commonwealth Bank of Australia, located in Sydney, is Australia's largest commercial bank and was established in 1912. Regarding the prospect of cryptocurrency, Gemini's global business development director Dave Abner said that his company is "proud" of cooperating with CBA to launch the world's leading encryption service. He said: "The exponential growth of digital assets internationally, coupled with Gemini's institutional-level security and proactive regulatory approach, enables this partnership to set new standards for Australian and global banking and financial platforms."