Pi Network - auto mobile mining: Join now and be one of the pioneers!!

Blog

The Royal Bank of Canada is reportedly exploring a cryptocurrency trading platform for in-store and online purchases, as well as for investments. Moreover, the bank is also supposedly looking into allowing customers to open bank accounts that contain digital currencies.

Royal Bank of Canada Explores Bitcoin Trading Platform

In what looks like a serious step forward in terms of cryptocurrency adoption, the Royal Bank of Canada (RBC) is reportedly exploring launching a trading platform for investments which would include Bitcoin, Ether, and other digital currencies.

Moreover, the bank is also looking into the opportunity of allowing its customers to open bank accounts that contain cryptocurrencies. RBC would be the very first bank in Canada to launch a cryptocurrency exchange or to offer accounts containing digital currencies.

Speaking on the matter was Marc Kaufman, a lawyer from a Washington-based firm, who outlined:

“I can’t think of one of the big banks anywhere in the world that has a patent that directly relates to a crypto exchange.”

This wouldn’t be the bank’s first foray into the field of cryptocurrencies as back in 2017, RBC announced that it uses blockchain-based technology to move payments to American banks. Later on, the bank also disclosed that it was using the technology to verify the identities of its clients.

A Solution Much Needed?

Those who follow the cryptocurrency scene might have heard of the QuadrigaX scandal which took part in late 2018 and early 2019 when the CEO of the popular Canada-based exchange, Gerald Cotten, found his death in India.

Unfortunately, it was reported that Gerald Cotten was the only person who had access to the cold storage of the cryptocurrency exchange and, as such, the latter owed its clients roughly around $190 million.

Issues of the kind are among the main challenges that the nascent field of digital currencies needs to overcome to make adoption a plausible option.

Needless to say, a huge banking institution such as the Royal Bank of Canada and its ventures into Bitcoin and cryptocurrencies, in general, certainly look like a step in the right direction.

Be the first to know about our price analysis, crypto news and trading tips: Follow us on Telegram or subscribe to our weekly newsletter.

No Comments

Be the first to start a conversation

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Categories

Pi Network - auto mobile mining

Become one of the pioneers!!

Random Posts

DOWNLOAD MY EBOOK FOR FREE

"Your Headline Here How I Made $4947 In 1 Month"

Lorem pretium lorem orci elit nunc imperdiet nec vel sit pretium hendrerit amet nec orci gravida gravida sapien purus massa

Quick Bio About Me

mypicmeLorem proin accumsan accumsan volutpat ut nullam odio eleifend libero quisque ipsum gravida eleifend dolor nunc sagittis venenatis orci eleifend lorem quisque venenatis non sagittis sagittis ipsum nunc.

lacus eleifend pretium eros sed consectetur venenatis praesent sapien consectetur dolor nullam laoreet orci mauris ornare congue lacinia auctor lorem quis quis lacus eleifend pretium eros sed consectetur venenatis praesent sapien consectetur dolor nullam laoreet orci mauris

Resources

  • Resource 1

    Lorem sed praesent quisque auctor libero eros lorem nec praesent accumsan ornare venenatis nullam.

  • Resource 2

    Lorem sed praesent quisque auctor libero eros lorem nec praesent accumsan ornare venenatis nullam.

Random Blog Posts

© 2020 Cryptoracle.info - Crypto News