April 17, 2021

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

Canadian 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 in its activities.

Cryptographic key management andconducting crypto operations is a problem for many users, since the confirmation of transactions with cryptocurrency assets may take some time, and / or they may be incompatible or not supported by trading systems or outlets, the patent says.

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 opportunityOpening cryptocurrency accounts for your customers. Royal Bank has reportedly filed about 27 blockchain patents over the past three years, including credit ratings, vehicle records, digital awards, and loan offers.