Barclays, First Bank to Embrace Bitcoin with Circle
Barclay enters into a partnership with Circle, allowing the bitcoin-based social fund transfer application to use its infrastructure to transfer Pounds Sterling. Barclays, the British banking giant is not new to digital currency and blockchain technology. The bank, known to encourage and work with innovative technologies has taken another step in that direction by announcing its recent partnership with Circle, a bitcoin social payments application. According to the partnership, Barclays, the mainstream banking major will be offering its infrastructure for a private company to deliver....
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An exciting partnership between Barclays and Bitcoin exchange Circle could lead to a slew of new features and innovations in the digital payment industry. Moreover, this is very positive news for Bitcoin as well, as the European bank is letting Circle use their existing infrastructure to provide real-time conversion from GBP and EUR to Bitcoin, and vice versa. Circle – A New Era Of Bitcoin and Banking? Up until this point, very few banks have been keen on the concept of Bitcoin, although they all seem to see high value in the underpinning blockchain technology. In fact, consumers have had....
Bitcoin wallet startup Circle has been granted an electronic money license from a top UK financial regulator. The approval from the UK Financial Conduct Authority – the first of its kind for a digital currency startup – allows Circle to establish a business relationship with London-based bank Barclays. As a result, Circle is now able to store pound sterling on behalf of its customer base – similar to how it holds dollars for its customers in the US. Further, UK customers can now send money to and from their bank accounts. "We support the exploration of positive uses of blockchain....
Is regulation and big banks participation the pill that the doctor ordered for Bitcoin companies to flourish? UK e-money licence. Barclays and Circle through their path-breaking partnership have demonstrated that banks do not need to fear dealing with Bitcoin companies. One can expect many more cryptocurrency-based companies to enter the financial mainstream in the coming months. Circle, the social payment network backed by Goldman Sachs, has launched its services in the UK. It has received an e-money licence and has partnered with Barclays in this initiative. On 5 April, Circle was....
After keeping its projects to itself in 2015, 2016 may have been Barclays's year – at least, when it came to blockchain tech. According to industry analysts, there's a strong case the bank is at the forefront of the increasingly large group of incumbents seeking to harness the "technology behind bitcoin" heading into 2017. As noted by Patricia Hines, a senior analyst with Celent's banking practice, a key distinction is that, while other banks may have primarily sought PR pickup, Barclays was able to use its blockchain efforts in 2016 as a competitive differentiator. From....
The largest bank in Japan, Bank of Tokyo-Mitsubishi UFJ, or MUFG, has confirmed it is testing its digital currency using the Blockchain technology. This fact gives credence to the evolutionary potential of fully integrating cryptocurrencies into the existing banking system. "Regarding the speculation (in) media reports, these reports are not based on any announcement by MUFG, and the details have not been decided," the bank's spokesman said in an emailed statement to Reuters. "However we can only say that it's true that MUFG is conducting demonstration experiments on the....