Category Archives: Barclays UK Ventures

Auto Added by WPeMatico

Barclays Chases $5.5 Million for Blockchain Invoice Exchange

Barclays Chases .5 Million for Blockchain Invoice Exchange

Barclays, the bank that has been skirting cryptocurrency for some time now since its announcement last year of a new ventures unit to study “disruptive technology”, has led a USD 5.5 million funding round for fintech firm Crowdz’s blockchain-based global invoice exchange.

Clearly, the bank has no desire to be left out in the cold, and its partnership with technology investment firm Bold Capital Partners shows its blockchain intentions, this time dumping manual operations by digitizing and automatizing its invoice processing procedures.

Barclays UK Ventures continues its push to “develop new customer propositions around major areas of disruptive technology”. Blockchain has never been far from Barclay’s development plans and the bank has become an active promoter in the fintech sphere since last year. CEO of Crowdz, Payson E Johnston, is keen to promote the speed and efficiency that blockchain can bring, particularly to small and midsize enterprises (SMEs):

“Today, small and midsize businesses often have to wait for a financially crushing 90 to 120 days or more to get paid. It’s no wonder that more than half of them suffer cash-flow problems during any given year. However, with the Crowdz Invoice Exchange, these, often struggling, companies can get paid within a few days or less-at rates usually far less than available elsewhere in the market.”

Earlier this year Barclays took part in trialing DLT to enhance the speed and efficiency of real estate transactions with the Instant Property Network using Corda’s blockchain-focused software consortium developed R3. However, Barclays appears to be playing catchup as four other major banks, Commerzbank, ING, Natixis, and Rabobank have already have adapted blockchain technology by finding a solution to minimize operational costs and risks using Corda’s R3.

 

Follow BitcoinNews.com on Twitter: @bitcoinnewscom

Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.

Image Courtesy: Pixabay

The post Barclays Chases $5.5 Million for Blockchain Invoice Exchange appeared first on BitcoinNews.com.

It’s On, Off, On again: Is Barclays Ringing the Changes with a Crypto Trading Desk?

It's On, Off, On again: Is Barclays Ringing the Changes with a Crypto Trading Desk?

With Barclays investing in the preliminary assessment of a cryptocurrency trading desk, the British multinational investment bank has shown that it hasn’t quite shrugged off the lure of crypto trading.

The bank has been skirting cryptocurrency for some time now. In April 2018, it entered the blockchain arena, with Barclays UK announcing a new ventures unit to study “disruptive technology”.

This was driven by Barclays UK Ventures unit with an aim to “develop new customer propositions around major areas of disruptive technology”.  A month later, rumors began to emerge that that Barclays was monitoring client responses to the possibility of opening a trading desk for cryptocurrencies, although the bank suggested it was simply monitoring the space.

Months later, the former head of trading at Barclays was given a new position as Head of Digital Assets Project: Barclays Investment Bank, while the director of oil options trading at the bank, Matthieu Jobbe Duval became Digital Assets Trading – Consultant at Barclays. This prompted investors to expect a statement, which never came.

Blockchain has never been far from Barclay’s development plans and the bank has become an active promoter in the fintech sphere, recently hosting the Blockchain Interoperability Hackathon at the Barclays Rise fintech hub in London.

Clearly this latest assessment by the bank shows that they still have one eye on the space and the needs of its customers; needs which have also been expressed by JPMorgan clients recently. Rumors also abound that Goldman Sachs is considering hiring for a cryptocurrency trading team.

Like its counterparts across the pond, Barclays still appear to be very much in the game.

 

Follow BitcoinNews.com on Twitter: @bitcoinnewscom

Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.

Image Courtesy: Pixabay

The post It’s On, Off, On again: Is Barclays Ringing the Changes with a Crypto Trading Desk? appeared first on BitcoinNews.com.