Barclays Bank unexpectedly suspended the development of cryptocurrency services

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Barclays Bank unexpectedly suspended the development of cryptocurrency services

The Financial News, citing its own sources reports that the Barclays project to launch a service for cryptocurrency trading “temporarily frozen”. The desire to work with the bitcoin UK Bank spoke back in 2013.

Then top management of the financial giant has recruited a team of professionals to developed a system to use digital currencies in the inner structure of the banking business. In addition, there were reports that Barclays, in partnership with other Western investment banks can participate in projects focused on the cryptocurrency industry.

However, at the end of September this year the British credit institution took an unexpected decision to suspend the activities of the team to launch digital service. Thus, the work on creating a cryptocurrency trading platform has not yet led to any concrete results.

In may 2018, the head of Barclays Jes Staley stressed that the Agency has no plans to launch its own division focused on trading virtual currencies. However, the financial holding company has promised to monitor the situation in the cryptocurrency market, as this trend may become a new stage of development of the world economy.

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