Royal Bank of Canada implements new patents to open digital currency trading platform

The Royal Bank of Canada has shown an initiative to open its own cryptocurrency exchange.

The largest bank in Canada by market capitalization, Royal Bank of Canada (RBC) is reportedly opening a cryptocurrency exchange.

The Royal Bank of Canada (RBC) has applied for 4 patents to integrate digital assets into its system. This will give the company the opportunity to launch a trading platform for the exchange of cryptocurrencies, such as Bitcoin and Ethereum.

“For individual users, managing cryptographic keys and performing operations with different crypto-assets can be a challenge. In some situations, it may take some time for crypto asset transactions to be validated and/or they may not be compatible or supported by the trading systems or outlets.”

If approved, RBC will be able to offer its customers the option of online banking with the ability to store digital assets. With their help, bank customers will be able to make purchases in stores and on the Internet.

RBC spokesman Jean Francois Thibaud said that the bank, “like many other organizations, applies for patents to protect its own ideas and concepts.” The bank representative did not comment on the launch of the cryptocurrency platform.

Over the past three years, The Royal Bank of Canada has published at least 27 patents related to distributed registry technology, including credit ratings, vehicle accounting and loan offers. Since 2017, the bank has used a blockchain-based system to transfer payments to U.S. banks and to verify the identity of its customers.

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