Barclays’ CEO Jes Staley has refuted fresh rumours that the United Kingdom financial institution will likely be opening a cryptocurrency buying and selling table, UK media platform Monetary Information reported Would possibly 1. All the way through the financial institution’s annual common assembly, Staley cited possible compliance and regulatory boundaries, announcing:
“Cryptocurrency is an actual problem for us as a result of, at the one hand, there may be the leading edge aspect of it and short of to stick in the leading edge of era’s growth in finance… At the different aspect of it, there may be the potential of cryptocurrencies getting used for actions that the financial institution desires to haven’t any a part of.”
As Cointelegraph reported in mid-April, Barclays had reportedly performed a initial overview to gage whether or not consumer pastime was once enough to warrant putting in a devoted table. Staley did on the other hand say the day past that the financial institution continues to assist its shoppers to settle Bitcoin futures contracts which might be being introduced on derivatives exchanges equivalent to CME Group Inc. and CBOE Global Markets Inc.
Staley’s rebuttal echoes that of Goldman Sachs’ CEO Lloyd Blankfein in January, who put an end to an identical speculations that the New York financial institution would arrange its personal cryptocurrency buying and selling table. Goldman Sachs has – reportedly “inadvertently” – owned a stake in a Circle-owned crypto buying and selling table since 2015.
Inside the remaining two weeks, Goldman Sachs has answered to “consumer pastime,” choosing to hire a cryptocurrency dealer as vice chairman of virtual asset markets in their securities department.
Staley’s cautious stance echoes an in-house research that was once issued through Barclays % in April, which likened the unfold of Bitcoin funding to an infectious illness. The Barclays analysts claimed that “immunity threshold” amongst new buyers has now been reached, and regarded as that the crypto virus is almost certainly to enter “remission.”
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