Earlier this morning a representative of Barclay's bank spoke with the business analysts over at CNBC and discussed how the European financial giant is looking at ways to bring Bitcoin or other cryptocurrencies into their portfolio of financial services.
British multinational bank Barclays has been in discussions with regulators about bringing digital currencies like bitcoin into service, CNBC reported citing the bank's UK chief executive Ashok Vaswani.
"We have been talking to a couple of fintechs [financial technology firms – Ed.] and have actually gone with the fintechs to the FCA [Britain’s Financial Conduct Authority – Ed.] to talk about how we could bring, the equivalent of bitcoin, not necessarily bitcoin, but cryptocurrencies into play," Vaswani told CNBC.
According to him, it’s an "obviously new area we've got to be careful with...”"(We're) working on it, (it's) not ready for prime time, we'll get there soon," he added without giving any other details.
Barclays has been experimenting with bitcoin and working with digital currency start-ups. The bank wants customers to be able to receive bitcoin payments directly in their accounts. - Russia Today
What is perhaps most interesting is that this announcement comes on the same day that the largest U.S. cryptocurrency exchange crashed or went offline due to the extreme amount of transactions taking place right now in the digital currency sphere.
Great post!
Thanks, this is an eye opener..
I think news like this is price friendly short term but I fear the banks using it to corrupt the spirit of the market in the long run, infiltrating and co-opting
https://steemit.com/steem/@mehrab/35robb-steem-in-pakistan
Obviously these central bankers are threatened by Bitcoin - so what's the best way to handle competition? Buy em' up...
This is good news , even though its Scum Bankers, I think the more places Crypto currencies are available the better it will be for people in general. But with a Bank , especially a British Bank their will be a million and one rules and regulations.
https://steemit.com/@cryptokidandyz
Stellar is offering free lumen tokens to bitcoin holders. They're just distributing it to addresses based on the blockchain, it is part of their business plan. Do not miss it ! I mean, whether you like Stellar or not, it is free money !