Barclays temporarily paused business in cryptocurrencies

The British financial giant Barclays decided to freeze its business projects in cryptocurrencies, given the reduction of interest in this assets.

This was reported by the Financial News, who explained that the financial institution decided to archive the project he had in hand in September. This caused the departure of Chris Tyrer, who was working as head of the bank’s energy trade.

The initial idea of ​​this plan was to evaluate if cryptocurrencies were a fad and also measure the interest of customers in cryptographic products as well as evaluate the infrastructure that Barclays had to prepare to move forward.

For some time, the British bank had applied for a patent for a blockchain system that would allow banks to create and issue units of digital currency backed by fiduciary currency guarded in their vaults.

Barclays was not the only one to do so, also the investment bank Goldman Sachs froze its plans to participate in a cryptocurrency trading desk.

K. Tovar

Source: Diario Bitcoin

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