{"id":404094,"date":"2019-11-12T17:24:42","date_gmt":"2019-11-12T17:24:42","guid":{"rendered":"https:\/\/wncen.com\/?p=404094"},"modified":"2024-06-11T15:49:51","modified_gmt":"2024-06-11T15:49:51","slug":"canadian-bank-changes-bitcoin-tune-may-launch-cryptocurrency-exchange","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/canadian-bank-changes-bitcoin-tune-may-launch-cryptocurrency-exchange\/","title":{"rendered":"Canadian Bank Changes Bitcoin Tune, May Launch Cryptocurrency Exchange"},"content":{"rendered":"
The Royal Bank of Canada (RBC) is exploring building a cryptocurrency trading platform for both investments and in-store\/online purchases. <\/span><\/p>\n This move would make the bank \u2014 the largest in Canada by market capitalization, with $661 billion CAD ($499 billion) in assets under management \u2014 the first in the country to launch a cryptocurrency exchange.<\/span><\/p>\n The trading platform would facilitate the buying and selling of individual digital coins, including Bitcoin and Ether, as well as bundled crypto assets. RBC also plans to offer customers the ability to open accounts to safely store their digital coins, according to The Logic<\/span><\/a><\/span><\/p>\n Although full details surrounding the bank\u2019s plans are not yet available, RBC has applied for four patents in Canada and the U.S that provide insights on how it plans to integrate cryptocurrency into its operations.<\/span><\/p>\n The U.S. patent applications, which were filed in April and became public in October, discuss how the bank can take advantage of the growing popularity of cryptocurrencies<\/span><\/a>.<\/span><\/p>\n One patent reads: “To individual users, managing cryptographic keys and transacting with different cryptographic assets can be a challenge. In some situations, cryptographic asset transactions may take time to be confirmed, and\/or may not be compatible or supported by merchant systems or point-of-sale devices.”<\/span><\/p>\n<\/blockquote>\n As of press time, RBC did respond to The Logic\u2019s request for comment, including whether it plans to launch a cryptocurrency trading platform and if so, when it would launch.<\/span><\/p>\n “As part of the innovation and discovery process, RBC, like many other organizations, files patent applications to ensure proprietary ideas and concepts are protected,” RBC spokesperson Jean Francois Thibault said.<\/span><\/p>\nRBC Cryptocurrency Patents <\/span><\/h2>\n
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Change of Tune<\/span><\/h2>\n