The Barclays spoke to the regulators including many others firms, fintech, and financial technology in regard to bring the cryptocurrencies such as bitcoin “into play.”In Denmark conference, the CEO of Barclays Ashok Vaswani told CNBC that, “We have been talking to a couple of
During the Denmark conference, the CEO of Barclays Ashok Vaswani told CNBC
“We have been talking to a couple of fintechs and have actually gone with the fintechs to the FCA to talk about how we could bring, the equivalent of bitcoin, not necessarily Bitcoin, but cryptocurrencies into play,”
“Obviously (it’s) a new area, obviously an area we’ve got to be careful with. We are working our way through it.”
The Barclays involvement in Bitcoin is yet to be announced. As recently the bank got involved with digital currency space. Last year the Barclays partnered with the start-up of social payment app Circle. The app is all about the payment transaction that allows its users to send and receive money through messages also supports bitcoin. They start-up received the license from FCA last year.
Bank being very cautious to get associated with any of the company or start-up dealing in bitcoins due to the reputation of cryptocurrencies that is used to buy illegal items using the dark web. But the leading market of cryptocurrencies and rising market cap of bitcoin that is gaining investor’s interest has been hitting the records.
Being a volatile currency and its price drop down in past few days regulators and investors are not losing on the digital currency and becoming more interested in it that leads to the approval to the bitcoin.