Some of Australia’s largest banks, super funds and financial institutions say consumer interest in the burgeoning cryptocurrency asset class has continued to surge despite falls in Bitcoin and Ethereum prices during recent market shocks and a lack of regulatory certainty for the sector.
“But its the full spectrum of customer needs that we would like to fulfil in a measured and steady manner, partly because you need regulation and partly because it needs an extremely solid business case,” she said.Ms Gilder said CBA was looking to double the size of its crypto and blockchain team in the coming months and the bank was “increasing our investment in this space significantly”.
However, Mr Collins said the current lack of regulatory certainty over the crypto space made it very hard for super funds to invest in the asset class on behalf of their members, saying doing so currently would be a “very courageous” decision.