During this week, the BOA (Bank of America), the second-largest U.s. bank, has been granted a patent allowing the exchange of digital currency. The bank’s customers can use this technology in various banking transactions. Three types of accounts are offered to individuals and businesses to exchange instantly to the virtual currency.
Below, you can find a video explaining perfectly these facts :
The BOA is authorized to trade crypto-currencies with this patent
On 5 December last year, the us patent and trademark office (USPTO) has granted BOA a patent to set up a stock exchange of crypto-currencies. This patent allows the bank to offer three types of accounts. The first account may be used by customers to store their funds digitally. The second and third accounts managed by the bank are called ” Accounts floating “. They permit the rapid exchange of digital currency.
BOA is one of the banks most active in the field of patents related to technology Blockchain in recent years. Last summer, the bank has filed over twenty patents related to crypto-currencies. The application for this patent was made in 2014. This patent will contribute to the development of this sector in the United States.
The BOA, a bank in favour of transparency
The us bank has been trying for many years to democratize the use of digital currency. However, the BOA does not have a relationship of the most friendly to Bitcoin users. In fact, the bank is well known to have closed the bank accounts of customers who traded Bitcoins. There are many cases where the BOA has closed the account of a client for the purchase of this crypto-currency.
Gerd Altmann, Pixabay
However, this does not mean that the bank does not allow the exchange of Bitcoins. Moreover, this latest approval demonstrates that the BOA promotes the development of crypto-currencies.
Source : NewsBitcoin