RATE Group | Canada’s Largest Bank Mulls Crypto Exchange After Bitcoin Ban — Report
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Canada’s Largest Bank Mulls Crypto Exchange After Bitcoin Ban — Report

12 Nov Canada’s Largest Bank Mulls Crypto Exchange After Bitcoin Ban — Report

Posted at 08:38h in Bitcoin News by

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A Canadian bank, which banned its clients from buying Bitcoin (BTC), could now become the first in the country to launch a cryptocurrency exchange. 

As innovation economy news outlet The Logic reported on Nov. 11, the Royal Bank of Canada (RBC) is now rumored to be considering the plans.

RBC reportedly planning multifunctional exchange

RBC is the largest bank in Canada by market capitalization, with $661 billion CAD ($499 billion) in assets under management.

According to The Logic, the bank is entertaining the possibility for the exchange to function both for investments and allowing clients to make purchases online and in brick-and-mortar stores.

The news follows a previous report that Canada’s central bank wanted to use digital currency in order to better track consumer spending habits. 

“The trading platform would facilitate buying and selling of individual digital coins, including Bitcoin and Ether (ETH), as well as the transfer of funds combining different types of…

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