As you know, the oldest bank of the UK Barclays is one of the world’s largest financial conglomerates with a wide representation in Europe, the United States and Asia. All financial operations of the conglomerate are carried out through a subsidiary bank of Barclays Bank PLC, which ranks second among British banks in terms of assets.
Yesterday, on April 13, a publication appeared on the page of the Theicojournal Newspaper, which reports that the oldest bank in the UK is going to launch trading in crypto-currencies by creating a trading platform focused on institutional financial players. This statement was made by representatives of Barclays at the Crypto Hedge Fund event.
The report also says that in future it is planned to create crypto-oriented hedge funds around the world. Yesterday this information was confirmed by two independent sources owning data on the project of the Bank of Great Britain.
It is reported that the main player in the global financial space Barclays lost its position after the difficult times of the global financial crisis. That is why such a step in the space of virtual currencies on its part is logical. The conglomerate will try to make a strong competition with the current rivals in the field of digital tokens and take the leading position among the crypto-exchange exchanges and hedge funds.
Thus, we see how the arrival of new institutional funds is preparing for the market of digital tokens. More and more traditional financial companies and banks are trying to take their place in the rapidly developing innovative industry.
Although it is worth noting that earlier the analyst Barclays compared bitcoin with an infectious disease and suggested that the peak of popularity of crypto-currency remained in the past.