In a statement on Wednesday, the bank said it would start a pilot in the weeks ahead and roll out more features in 2022.
Customers will be provided access to 10 selected assets, including bitcoin, ethereum, bitcoin cash and litecoin.
The bank said its research had found that many customers want to invest in cryptocurrency and were already using other exchanges to do so.
“We believe we can play an important role in crypto to address what’s clearly a growing customer need and provide capability, security and confidence in a crypto trading platform.
“In looking at ways that we can support our customers, we have made the strategic decision to form an exclusive partnership in Australia with Gemini, a global leader with strong security and a track-record of serving large institutions. CBA will leverage Gemini’s crypto exchange and custody service and integrate it into the CommBank app through APIs.”
Dave Abner, the global head of Business Development at Gemini, said: “We are proud to be providing exchange and custody services to CBA as they begin to unlock access to cryptocurrency investments for many Australians.
"The exponential growth of digital assets internationally, coupled with Gemini’s institutional-grade security and proactive regulatory approach, positions this partnership to set a new standard for banks and financial platforms in Australia and across the globe.”
Chainalysis will help compliance teams monitor and mitigate the threat of crime through cryptocurrency asset exchanges.
Chainanalysis co-founder and chief executive Michael Gronager said: “Financial institutions like CBA play an integral role in growing cryptocurrency adoption safely. We are thrilled to be a part of this important alliance with CBA and our partner Gemini to play a pioneering role in building trust in cryptocurrencies in the Australian market.”
Comyn added: “Customers have expressed concern regarding some of the crypto services in market today, including the friction of using third-party exchanges, the risk of fraud, and the lack of trust in some new providers. This is why we see this as an opportunity to bring a trusted and secure experience for our customers.
“We remain committed to reimagining banking and will continue to bring more functionality into the CommBank app including investing and shopping.”