Barclays Puts Its Cryptocurrency Trading Platform ‘On Ice’

barclays ice freeze

London-based multinational investment bank agiant Barclays has reportedly halted work on its cryptocurrency trading project.

Barclays Stops Cryptocurrency Trading Project 

One of the leading multinational investment banks Barclays has put its work on a cryptocurrency trading project to an end or “on ice,” Financial News London reports, citing two people familiar with the matter.


Earlier this year, the bank had put together a senior team of specialists to explore how it could incorporate trading of cryptocurrencies into its existing markets businesses. The team consisted of Chris Tyrer – the bank’s former head of energy trading, Marvin Barth, head of emerging markets macro strategy and FX, Lee Braine, a senior technologist, and consultant Matthieu Jobbe Duval.

In April, Bitcoinist reported that Barclays was considering a Bitcoin 00 trading desk.

Then in August, Barclays, among other banking giants, took part in an app store trial for programs, which are entirely based on distributed ledger technology or blockchain, one of the key components that make Bitcoin tick.

History is Repeating Itself

Earlier this year, unconfirmed reports much like the one from Financial News London, announced that Goldman Sachs shelved its proposed plan to open a Bitcoin trading desk. At the same time, the price of Bitcoin (and other cryptocurrencies) experienced significant pullback as Ethereum (ETH) 00 lost 12 percent of its value in under an hour.

Immediately after the reports went off, Goldman Sachs’ CFO Martin Chavez dubbed them as “fake news.”

“I never thought I would hear myself use this term but I really have to describe that news as fake news,” said Chavez.

Maybe someone who was thinking about our activities here got very excited that we would be making markets as principal and physical bitcoin, and as they got into it they realized part of the evolution but it’s not here yet.

What do you think of the report that Barclays has halted work on its cryptocurrency trading project? Don’t hesitate to let us know in the comments below!

Images courtesy of Shutterstock, Bitcoinist archives

The post Barclays Puts Its Cryptocurrency Trading Platform ‘On Ice’ appeared first on

Top brokers for buying and trading cryptocurrencies

  • Platform
  • Features
  • Rating
  • Visit Site
  • US-Friendly
  • Paypal accepted
  • 12+ cryptocurrencies

Visit Site
75% of retail investors lose money.
eToro Reviews

    eToro Reviews your account
    Hide eToro Reviews
    • Best broker for non-US countries
    • Trade crypto CFDs, forex and stocks
    • No withdrawal or deposit fees

    Visit Site
    80.5% of retail investors lose money.
    Plus500 Reviews

      Plus500 Reviews your account
      Hide Plus500 Reviews
      Remember, all trading carries risk. Past performance is no guarantee of future results.