Barclays scans on cryptocurrencies
Barclays has explored clients’ interest in establishing a cryptocurrency trading division.
This report persons familiar with the matter. This would allow the UK bank to join Goldman Sachs as a pioneer of new Wall Street business.
Barclays has so far only carried out a preliminary assessment of demand and feasibility, said the people who asked for anonymity because the information was confidential. The bank said last week that there are currently no concrete plans to launch such activity.
“We are constantly monitoring developments in the digital currency space and will continue to talk with our clients about their needs and intentions in this marketplace,” spokesman Andrew Smith said in an e-mail statement.
Given the new asset category, risk and compliance requirements, a crypto-trading desk would have to be approved by Tim Throsby, head of the investment bank, and possibly also by Chief Executive Officer Jes Staley, one of the people said. There are no other major European investment bank plans to launch such an area.
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