A trading platform for the cryptocurrency is being built by the Canadian bank named The Royal Bank of Canada (RBC) for online purchases and investments. With this move the bank will be the first to launch a cryptocurrency exchange. This platform would lead to selling and buying of individual digital coins such as bitcoins, Litecoins, and crypto-assets. The RBC is also making plans to provide customers with the ability to open accounts for the safe storage of their digital coins.
RBC cryptocurrency copyrights
Though it’s not confirmed the basis of the bank’s plans, RBC has four patents in Canada and the USA, which advice on how to plan on the incorporation of cryptocurrency to its operations. The USA copyright application was filed on April and was published in October. It discusses how a bank can take advantage of the cryptocurrency’s growing acceptance around the globe. Bitcoin, which serves over 80% of the market, makes use of an underlying technology known as blockchain. In some occasions, asset transactions can take time before confirmation hence leading to incompatibility or loss of support by the merchant systems or sales devices.
About press time, the RBC responded to the logic request. It included the plan of launching a trading platform for cryptocurrency and if so, when then launch would happen as part of the discovery and innovation process. The RBC spokesman responded by saying that being the fist institution to venture in cryptocurrencies, RBC, like many other organizations, has made applications to file patents to ensure that the branded concept is not threatened.
Change of tune.
RBC is planning a move that may come as a surprise to many. Last year, the financial institution, abruptly banned its customers from purchasing cryptocurrencies with debit and credit cards.in the past three years, RBC has printed 27 blockchain-related copyrights that dealt with the recording of vehicles, smart contracts, digital rewards, loan offerings, and a variety of vehicle investments. Canada has a small number of cryptocurrency exchanges, but most of them have run in into issues and regulations. Last week, Einstein exchange-based in Vancouver went bankrupt. Early this year, Vancouver based quadriga cx, also went bankrupt after the CEO died in 2018 and no one was informed of the private keys that he accessed funds with on the blockchain exchanges. Applications of the RBC suggest how it has planned to avoid these kinds of issues. This is by ensuring that the private key can be located with ease. There are other regulatory provisions such as anti-money laundering laws.
