Barclay and FCA discuss Cryptocurrency application

Barclays UK CEO Ashok Vaswani commented in a live interview that Barclay and FCA discuss Cryptocurrency application and how to bring it “into play”.

26 June, AtoZForex – Cryptocurrencies are literally everywhere in Finance as we speak. Indeed, even during the MoneyConf in Madrid, the biggest discussion topic was blockchain technology and cryptocurrencies. From small start-ups to well established investment banks, everyone wants a piece of the blockchain opportunity.

During an interview with CNBC, Barclays UK CEO Ashok Vaswani commented that the company has been in discussions with financial technology firms and regulators such FCA UK about bringing cryptocurrencies like bitcoin “into play”.

“We have been talking to a couple of fintechs and have actually gone with the fintechs to the FCA to talk about how we could bring, the equivalent of bitcoin, not necessarily bitcoin, but cryptocurrencies into play. Obviously (it’s) a new area, obviously an area we’ve got to be careful with. We are working our way through it.”

Although, Mr. Vaswani did not comment about the degree of the Barclaysi and FCA cryptocurrency discussion, we can speculate that the discussion would involve the security, regulation, remittance, liquidity and possibly investor compensation scheme.

Some of the investment banks, indeed have been trying to be proactive with the blockchain technology. Barclays, Goldman Sachs and a number of other banks have been testing different use cases for blockchain technology.

    Share Your Opinion, Write a Comment