Bill Downe, the Chief Executive of the Bank of Montreal said on April 1st that his bank would be receptive to dealing with bitcoin transactions on the condition that the digital currency becomes more regulated. This is the first major form of approval from any chief of a large Canadian bank.
Downe placed the conditions of the digital currency becoming more stable and regulated. He said in an interview after the bank’s yearly general meeting in Toronto that if those conditions were to actualize, “then there’s no reason why we couldn’t be an intermediary in bitcoin-related transactions.”
“Because, if you wanted a Swiss franc transaction or a Japanese yen transaction or a U.S. dollar transaction, we can do that transaction for you…If bitcoin [can be] a reliable medium of exchange, then at that point in the future, we would be able to [conduct business] with bitcoin,” Downe stated.
Seems like its only a matter of time until the big boys join in..
MEJ Price at posting:
6.2¢ Sentiment: Buy Disclosure: Held
