Canada's Biggest Bank Reportedly Looking to Launch a Cryptocurrency Exchange
The Royal Bank of Canada (RBC), the country’s biggest bank with over $900 billion in total assets, is reportedly looking to launch its own cryptocurrency exchange.
According to The Logic, four public patent applications the RBC filed reveal it’s looking to create a cryptocurrency trading platform, and could also let customers buy crypto in-store and online. Moreover, the patents show the bank is looking to let customers open bank accounts containing crypto.
The bank is said to already be using blockchain technology, with its CEO Dave McKay saying earlier this year it was looking to tokenize a variety of assets to register them on a blockchain. Some of its other uses for decentralized ledger technology include verifying client identities.
