TORONTO (Reuters) - Royal Bank of Canada (RY.TO) is experimenting with blockchain to help move payments between its U.S. and Canadian banks, one of the bank’s senior executives told Reuters on Thursday. The Royal Bank of Canada ( RBC ) has been testing a secondary ledger alongside its primary ledger for several weeks , according to Martin Wildberger , RBC ’s executive VP for innovation and technology . The new system , based on open - source Hyperledger software , is expected to reduce costs and speed up payments between RBC 's US and Canadian banks . RBC wanted to " demonstrate our leadership in exploiting that technology while at the same time recognising that the technology is still early in its adoption phase " , said Wildberger .
The Royal Bank of Canada ( RBC ) has been testing a secondary ledger alongside its primary ledger for several weeks , according to Martin Wildberger , RBC ’s executive VP for innovation and technology . The new system , based on open - source Hyperledger software , is expected to reduce costs and speed up payments between RBC 's US and Canadian banks . RBC wanted to " demonstrate our leadership in exploiting that technology while at the same time recognising that the technology is still early in its adoption phase " , said Wildberger .