The largest bank in Canada, Royal Bank of Canada (RBC), is considering a cryptocurrency trading platform to open it up. All of them have different goals in mind.
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180 degrees, and
As a trading platform, users can, of course, cryptocurrency buying and selling, including the big names like bitcoin, and operation. Moreover, it would allow customers to control their digital assets, as well as traditional currency, and can use it for selling their products in stores or online.
This is a 180-degree turn to the bank. Beginning in 2018, the attitude of, LOOK for, and really a whole new way. As a customer of the bank, if you LOOK in the account is not even cryptocurrency to buy it.
This is fascinating: Last year, the Royal Bank of Canada (RBC), the largest bank here up North, with $660 billion under management, restricted #Bitcoin purchases (and my friend was affected).
Now, it might be on the verge of or launching a cryptocurrency exchange.https://, etc.co./vSVCwrORmk
— Nick Chong (@_Nick_Chong): November 12, 2019
A unique approach
There are only few banks with their own crypto exchange, it will cost you. In Canada, RBC is the first of a traditional bank in Canada for a cryptocurrency trading platform is launching, and digital assets, accounts, offer.
Marc Kaufman of the law firm Rimon Law is also unique in
“I can be anywhere in the world is a big bank, consider that a patent has been requested and that is directly linked to a computer to work.’
It would seem that the bank has four patents pending in both Canada and the United States of america. All of these are focused on the integration of the cryptocurrency in their daily work.
Because the LOOK of a fully-regulated financial institution, the bar is set high. The bank needs to ensure strong security measures, proper storage of the private keys as well as the enforcement of the regulations concerning money-laundering.
The infrastructure for digital assets
In the last three years, and had to LOOK several patents have issued with respect to the digital assets, the cryptographic proof systems. In 2017 the new developments and techniques in the banking with the blockchain for payments between the united states and Canada to perform. RBC uses the blockchain for verification of its customers.
The ambitions of the new Canadian bank to reach out a little bit more than just a trade in the computer’s design. They are also interested in the provision of services for the tokenized assets, for example, tokenized, stocks, bonds, or blue chip stocks. These are also known as a security token, called the.
In accordance with the bank’s new technology, it is possible to create new markets for new financial instruments. On the basis of a token can be of value, and even physical objects are safe to be sold.