UBS and Barclays Experimenting with Ethereum Platform
Following the launch of Ethereum Project's Frontier developer release, UBS and Barclays have started experimenting with the open-source distributed computing platform. This network provides an incentive called ether, which is similar to bitcoin. A source from Barclays told IBTimes that they are front-runners in exploring this kind of technology, as very few individuals are aware of how this could transform the banking industry. "You are talking about 100 or 200 people that are building stuff with this and some of them are from banks," the source said. "It's the beginning. It's not even the....
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Barclays is set to become the first UK bank to officially accept payments in Bitcoin, as reported in The Sunday Times. The multinational banking and financial services company announced recently that it is set to become the first bank in the United Kingdom to start accepting Bitcoin as a payment method. Barclays announced that they could start experimenting with Bitcoin as early as by the end of this year. Stating that Bitcoin has the potential to change financial services, Barclays revealed that it has entered into a partnership with an undisclosed Bitcoin exchange. They also revealed....
Barclays is about to become the first mainstream bank to openly and directly support bitcoin transactions, The Sunday Times reports. The Daily Mail echoed the news for its huge readership. Barclays has been experimenting with Bitcoin and working with digital currency start-ups for some time. Speaking at the Morgan Stanley European Financials Conference in London, Barclays' CEO Antony Jenkins warned the "banking sector has not yet felt the 'full disruptive force' of technology - but it will." He elaborated on the growing concern among financial institutions that faster, cheaper payment....
UK banking giant Barclays took another step toward positioning itself at the forefront of innovators in the blockchain sector last week with the news it had become the first to trial Corda, a new distributed ledger platform from partner R3CEV. The prototype, demoed at the Barclays Accelerator in London last week, follows a particularly active period for Barclays, which earlier this month revealed it would provide banking services to blockchain payments startup Circle, and earlier this year, participated in a test of a private version of the Ethereum blockchain with 11 R3 member banks. In....
At the end of Barclays' 13-week fintech accelerator program, the bank announced that it signed contracts with eight participating companies, two of which are involved in blockchain tech. The Flatiron District in New York has been home to the newly-launched Rise fintech laboratory, following Barclays' initiative in London a few months back. "We've done it in London, invested heavily over the past two years to connect the ecosystem there, and we're doing it now in New York City," said Derek White, Barclays chief design and innovation officer to the New York Business Journal. Rise of....
Whoever said that financial institutions and Bitcoin cannot co-exist is in for a huge shocker. The biggest news from the Barclays Accelerator event is that Safello has entered into a Proof-of-Concept (PoC) partnership with the financial giant Barclays. CEO and Co-founder of the Bitcoin startup Frank Schuil said, "Safello and Barclays will be working together on creating a new payment platform that will support bitcoins. The collaboration begins with a PoC trial to allow for donations to be sent to charities using Bitcoins." Founded in 2013, Safello got selected for Barclays Accelerator in....