The Royal Bank of Canada (RBC) Is Not Launching Its Own Crypto Exchange


November 19, 2019 8:16 pm

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Ed Jones, spokesperson of The Royal Bank of Canada’s (RBC) RBC said that Canada’s largest bank was exploring the development of a crypto exchange. But, several recent patent applications filed by the bank do not plan to launch an exchange.

The spokesperson said to Coindesk:

“While RBC does not comment on ongoing proprietary research and development, we can confirm that these patent filings are not in support of work towards a cryptocurrency exchange for clients. RBC has no near-term plans to launch a cryptocurrency exchange for clients.”

Last week’s reports stated that the bank was “exploring” the launch of a crypto trading platform. Some other news sites picked up the story or republished The Logic’s version. Jones said these sites speculated on the purpose of many cryptos and blockchain-related patent applications that RBC has filed.

He added that:

“As a part of the innovation and discovery process. RBC, like many other organizations, files patent applications to ensure proprietary ideas and concepts are protected.”

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