The largest Canadian bank, Royal Bank of Canada, is considering launching its own platform for trading cryptocurrencies and paying with digital assets for purchases in retail and online stores.
The Logic information portal became aware that Royal Bank of Canada has filed four patent applications in Canada and the United States, which indicate the possibility of introducing digital assets into its operations.
“An individual user may encounter difficulties in the management of cryptographic keys, as well as in the transfer of crypto assets. In addition, sometimes the transfer of cryptocurrencies takes quite a long time. And some of them may not be supported by the seller’s payment acceptance device, ”the document says.
According to The Logic, Royal Bank of Canada wants to delve into the study of the prospects of creating a platform for the purchase, sale and transfer of crypto assets. This information is indirectly confirmed by the statement of the bank representative:
“We, like other organizations, protect our developments by filing patents.”
Marc Kaufman, a partner at Rimon Law, a Washington firm, commented on this information: “It’s hard for me to name at least one large bank whose patents directly relate to the exchange of cryptocurrencies.”
In addition, Royal Bank of Canada can provide its customers with special accounts for storing crypto assets. Over the past three years, the bank has registered 27 patents related to the blockchain.
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