Barclays froze the project to launch a platform for trading cryptocurrencies

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In September, the head of the Department, who studied the blockchain industry, resigned from the company

A project to study the cryptocurrency industry large Bank Barclays have been frozen, according to the publication Financial News, citing its own sources. Previously, the company has assembled a team that studied the possibility of launching its own platform for trading with digital money.

In September, the head of the project on digital assets Chris Tyler quit. This happened after the Bank’s management decided to freeze the initiative. Also it worked on by MicroStrategy in the field of emerging markets Marvin Barth, consultant Matthew Cobb Duval and head of the technical unit of the If brain.

They had to determine the prospects of cryptocurrencies and how they are of interest to customers of one of UK’s largest banks. Also the sources stressed that experts have studied, what type of IT infrastructure required for digital money.

Informed managers who were involved in the cryptocurrency project, positive about the blockchain-industry and said that digital money can become a full-fledged asset class. In may, head of Barclays Jess Steel said that the Bank plans to open a division in the cryptocurrency trading, and added that they are used for criminal purposes.

More news on cryptocurrency can be found in our telegram channel RBC-Crypto.

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