Share this article
Commonwealth Bank Plans More Blockchain Investments in 2017
Commonwealth Bank plans to keep spending on blockchain tech.
Updated Sep 11, 2021, 1:06 p.m. Published Feb 16, 2017, 4:15 p.m.
One of Australia’s ‘Big Four’ banks has committed to further blockchain investments as it steps up its overall IT spend.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
reports that Commonwealth Bank is looking to spend close to $1bn – an increase over last year – on technology in 2017. While published investor documents contain no hard numbers, the bank has reportedly pledged to continue investing in blockchain over the coming year.
The disclosure comes weeks after Commonwealth Bank said it was involved with a "cryptobond" blockchain project in collaboration with the Queensland Treasury Corporation (QTC), utilizing CBA’s capital markets platform to streamline the underwriting and settlement process for debt instruments. Traders using the system have access to a transparent order book where they can see bids for the bonds in real time.
Commonwealth Bank, one of the four largest institutions of its kind in Australia, has been working with the tech since mid-2015. It made headlines last October when the firm, in partnership with Wells Fargo, collaborated on a blockchain-focused trade finance project, specifically centered on the global cotton market.
The development comes amid a broader push toward blockchain among Australia’s finance space – as well as interest from regulators, who have expressed interest in the past in both bitcoin and blockchain-focused frameworks.
Image via Shutterstock
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Crypto Markets Today: Traders Seek Catalysts After Bitcoin’s Post-Fed Pullback
The crypto market slipped to the lower end of its range after the Federal Reserve’s 25bps rate cut failed to spark fresh momentum.
What to know:
- BTC is trading near $90,350 after defending the $88,200 support zone, but momentum remains capped below the key $94,500 resistance level.
- Implied volatility fell to its lowest since November, ETH/BTC IV spreads widened, and risk reversals stayed negative across tenors while open interest declined—most sharply in ADA.
- Low-liquidity conditions dragged tokens like ETHFI, FET, ADA and PUMP down more than 8%, while privacy-focused XMR stood out with gains as the broader altcoin season index slumped to 19/100.
Top Stories
