April 25, 2024

The largest bank in Canada is exploring the possibility of launching a trading crypto platform

The largest bank in Canada is exploring the possibility of launching a trading crypto platform

Canada's Royal Bank, the country's largest bank with assets of more than $965 billion, may launch a platform for...cryptocurrency trading. The bank has applied for four patents in Canada and the United States related to the integration of cryptocurrencies into its operations.

Cryptographic key management andConducting crypto transactions is a challenge for many users, as transactions involving crypto assets may take time to confirm, and/or they may not be compatible or supported by trading systems or merchants, – says the patent.

Royal Bank Representative Jean Francois Thibaulttold The Logic that the bank, “like many other organizations, is applying for patents to protect its own ideas and concepts,” refusing to comment on the launch of the platform.

The bank also supports the possibilityopening cryptocurrency accounts for their clients. Over the past three years, Royal Bank has reportedly filed about 27 blockchain-related patents, including credit scores, vehicle records, digital rewards and loan offerings.