Could The Royal Bank of Canada Be Getting Into Cryptocurrencies

The Royal Bank of Canada could be gearing up to launch a cryptocurrency trading platform.

The Royal Bank of Canada (RBC) is the country’s largest bank with over $965 billion in total assets. The Logic reports the bank has applied for four patents in Canada and the U.S. that reveal how it might integrate cryptocurrencies into its operations. RBC spokesperson Jean Francois Thibault told The Logic that the bank, “like many other organizations, files patent applications to ensure proprietary ideas and concepts are protected,”.

The bank could also offer its customers cryptocurrency accounts, per the report. RBC is said to have published at least 27 blockchain-related patents in the past three years, including credit scores, vehicle records, digital rewards and loan offerings.

This article is not intended to be financial advice. As always, do your due diligence before investing, and never invest more than you can afford to lose.

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