The CBA and cryptocurrencies is an accurate shot.
If we look at the current scenario, it is unthinkable that what is happening now concerning cryptocurrencies would have happened 5 or 10 years ago. For example, 10 years ago everybody denied cryptocurrencies and said that it was a mere scam that would end soon. But if we look now we have in front of us a growing adoption, a country that has a cryptocurrency as legal tender, bitcoin ETFs, governments interested in cryptocurrencies, billionaires and giant companies interested in crypto, and many more things.
In addition, some banks in the world are also getting involved with cryptocurrencies. And one of the most prominent examples is Australia's largest bank, Commonwealth Bank. That in recent statements has shown its interest in cryptocurrencies as it will allow trading of cryptocurrencies in its banking application, among the most prominent, are Bitcoin, Ether, Bitcoin Cash, and Litecoin.
This new crypto integration will give access to cryptocurrencies to more than 6 million of the bank's customers. The CBA will make this possible by partnering with cryptocurrency exchange Gemini and Chainalysis to launch its cryptocurrency services. But before fully launching it for all customers, the bank will launch a pilot test for a limited number of customers in the coming weeks and it is anticipated that depending on the success of the tests that the service will be fully rolled out in 2022. But as we know the great success of accepting and trading cryptocurrencies, this test will be very successful.
This announcement has been received with pleasure and they applaud that a bank of this caliber is interested in offering crypto services, in addition to commenting that the other largest banks in the country as the National Australia Bank (NAB), Australia and New Zealand Banking Group (ANZ) and Westpac, also follow this example for the great success that the CBA has in the first quarter.
2022 Crypto everywhere.
All roads lead to Rome, for all that is unfolding this year will lead to a greater adoption in 2022. If we make a count of all the important events for the crypto sphere, we will see that everything points to the adoption growth will be much higher in 2022, either by DeFis, Play2Earn games, institutional adoptions, ETF, etc.. All this will not stop growing and reaching more people, it is expected that there will be more than 500 million people actively using cryptocurrencies in 2022, but seeing the current speed probably will reach the billion.
Because cryptocurrencies offer things that no traditional financial service can offer, and that attracts the new generations that are looking for speed and security, in addition to other integrations such as the metaverse that will also have much exposure in 2022, so we will continue to hear how more and more banks are adopting cryptocurrencies to avoid disappearing and adapt.
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