Summary
- UK investment bank Barclays reportedly is reviewing the introduction of a blockchain-based payment system in response to the spread of stablecoins and the potential digital shift of deposits.
- Barclays has contacted relevant technology providers to build infrastructure to support payment processing and tokenized deposits, but discussions are still at an early stage, it said.
- As global banks seek to build digital payment infrastructure and partner with external platforms in response to the growth of the stablecoin and tokenized-asset markets, Barclays’ move is also viewed as part of the traditional finance sector’s broader acceptance of digital assets, it said.
Forecast Trend Report by Period
UK investment bank Barclays is reportedly considering the adoption of a blockchain-based payment system to respond to the spread of stablecoins and the potential digital shift of deposits.
According to Bloomberg on the 27th (local time), Barclays has been in contact with relevant technology providers to build infrastructure for payment processing and support for tokenized deposits. However, the discussions are still at an early stage, and no formal plan for launching a service has been announced.
Recently, global banks have been looking to build their own digital payment infrastructure or collaborate with external platforms in response to the growth of the stablecoin and tokenized-asset markets. Barclays’ latest move is also seen as an extension of the traditional finance sector’s broader embrace of digital assets.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
