The Royal Bank of Canada (RBC), Canada’s largest bank by market capitalization, is now reported to be considering the launch of its own digital currency exchange. The news of the RBC’s crypto exchange consideration made the rounds quite notably, because back in 2018, the RBC banned its customers from all digital currency purchases, using both their debit and credit cards.
Apart from simply running a crypto exchange, RBC is also reportedly considering a platform that will also allow investments from clients and still let people make cryptocurrency payments both in physical outlets and on online stores as well.
Last year, the RBC posted a message which is still available on its website today, outlawing cryptocurrencies from its services:
“Effective immediately, RBC will no longer be allowing the use of RBC credit cards for transactions involving cryptocurrency. We regret any inconvenience this may cause.”
At the time, RBC joined the Bank of Montreal as well as TD Bank, both of which had also publicized their anti-crypto stances and disallowed customers from purchasing crypto with their respective bank cards.
The RBC is yet to make an official comment on the report. However, there’s a good enough chance that with worldwide acceptance of blockchain technology and cryptocurrency as well, institutions like the RBC that have not exactly had open arms towards crypto, might be changing their minds.
The Central Bank of Canada is also considering the creation of its own Central Bank Digital Currency.
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