Westpac Makes Its Very First Steps Towards Crypto
Categories: Crypto News US
Westpac Makes Its Very First Steps Towards Crypto
After remaining silent on the subject for much of this year, major Australian bank Westpac has indicated its intention to enter the blockchain and crypto space. That's because it shared a job post this week that advertised the need for a "principal architect" for digital assets and crypto. The successful candidate will help Westpac turn emerging cryptocurrency and digital asset trends into opportunities for the bank and its customers.
Westpac's roadmap for digital assets
More specifically, the position's key duties will include the development and maintenance of a strategic technology roadmap for digital assets. Westpac's Chief Technology Officer David Walker has spoken out about speculation about its future in crypto.
Other Australian Banks Banking on Crypto
When it comes to entering the cryptocurrency industry, the most productive bank in Australia by far has been the Commonwealth Bank of Australia (CBA). However, CBA was forced to halt its crypto trading pilot in May amid market turmoil. Those who were testing CBA's upcoming in-app crypto trading feature had no clue about when the app might start trading.
The Australia and New Zealand Banking Group (ANZ) aims to increase the use of its cash-backed stablecoin, A$DC, due to increased demand for its access from its institutional clients. At the time (June 2022), ANZ was also looking to target additional use cases through a pilot program, thanks to assistance from the federal government and regulators.