Barclays Bank Looking at Potential of Opening Crypto Trading Desk

Barclays Bank Looking at Potential of Opening Crypto Trading Desk

Barclays, the international investment bank, has been reviewing the possibility of opening a cryptocurrency trading desk as reported by Bloomberg on April 16.

Barclays conducted a trial assessment of whether the client interest would be sufficient enough to open such an establishment. Opening a cryptocurrency desk will require approval from Barclay’s International president, Tim Throsby.

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Throsby stated last year in September that they would be open to authorizing billions of dollars’ worth of capital for a higher risk trading platform. With Bitcoin and other cryptocurrencies currently being as volatile as it is, Bloomberg states this could be the type of investment they’re looking for.

If the cryptocurrency trading desk were open, this would represent a significant move by a more traditional financial institution. This pioneering move could also result in more mainstream crypto adoption. Several Wall Street firms allow their customers to invest in Bitcoin future contracts. These contracts are offered by CME Group and CBOE Global Markets.

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