Bank of America Obtains Crypto Patent, is it Planning to Operate a Wallet?32.38

A sure sign of growing adoption and institutional interest in cryptocurrencies is when major banks start to look at them more closely. The second largest bank in the US, Bank of America, was recently awarded a patent for secure crypto key storage indicating that its interests in the industry are still fully intact despite the year’s bear market.

According to the official documents, the system will be used for storing private keys rather than coins directly; “hardened remote storage of private cryptography keys used for authentication” said the description. The list of patents secured by major banks and financial institutions is growing, a strong sign that they believe in a cryptocurrency future.

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