Circle Inks Bank Deal With Barclays After UK Regulator Approval
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....
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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....
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....
Barclays Bank received the most complaints in the first half of 2016 of all financial services firm, according to latest figures from the UK financial regulator. The Financial Conduct Authority said that between January and June Barclays complaints increased 3% from the second half of 2015, reaching 287,463. HSBC was the only other big five High Street banks to see complaints increase. HSBC’s complaints also rose 3% to 124,891. Lloyds Bank, however, saw complaints decrease 7% to 213, 163, remaining second to Barclays. Barclays has taken steps to improve customer service, the banks says,....
On Thursday, US-based financial firm Circle announced that its new SPAC deal with Concord Acquisition Corp to list on Wall Street had ballooned its value to $9 billion. Concord, a blank-checked company, is led by former Barclays boss, Bob Diamond. Circle, a blockchain-based payment company pegged with stablecoin USDC, described that it had prepared plans to […]
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....