Despite all the rumors, the U.K. banking giant Barclays is not planning to launch its own cryptocurrency trading desk in the nearest future.
Six of the world’s biggest banks teamed up to create a new digital currency ‘utility settlement coin’ for clearing and settling financial transactions.
Financial institutions all over the world partner to explore and adapt the blockchain technology to financial needs.
The UK banking giant has presented the new smart contracts app designed to record and manage financial agreements among its clients.
Circle’s app that has already been available in the USA is expanding its services for UK citizens who can now instantly send value without fees and with the convenience of sending an email or text.
Final round increased the total sum of investment to $60 million.
Thus R3 project has just grown up to 42 members – the world’s largest and most influential banks.
The blockchain holds huge promise for the future of the financial industry, with the world’s leading organizations developing solutions based on the bitcoin technology.
Former JPMorgan senior executive Blythe Masters rebuffed a proposal to join Barclays, as she is committed to continue her work at the blockchain startup Digital Asset Holdings.
The former chief executive of Barclays, Anthony Jenkins, believes the FinTech will disrupt the traditional banking industry over the next ten years.