Aussie banks ANZ and NAB won’t ‘endorse’ retail speculation on crypto

2022.06.01 08:01

Aussie banks ANZ and NAB won’t ‘endorse’ retail speculation on crypto

Executives at two of Australia’s “big four” banks have ruled out allowing retail customers to trade cryptocurrency on their platforms, with one reasoning that customers don’t understand “basic financial well-being.”

Speaking at the Australian Financial Review Banking Summit on Tuesday Maile Carnegie, executive for retail banking at Australia and New Zealand Banking Group (ANZ), said that from speaking to retail customers, she believed “the vast majority of them don’t understand really basic financial well-being concepts.”

Source