Barclays Testing the Waters for a Cryptocurrency Trading Desk

Barclays Testing the Waters for a Cryptocurrency Trading Desk

THELOGICALINDIAN - While the big banks are usually actual agnostic of bitcoin in accessible beneath the alarm they could all already be authoritative affairs to accretion a ballast for themselves in the ecosystem The latest archetype is Barclays that is reportedly allurement audience about a accessible move into the crypto trading space

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Testing the Waters

Barclays Testing the Waters for a Cryptocurrency Trading DeskBritish cyberbanking behemothic Barclays (LSE: BARC) is allegedly because ablution a cryptocurrency trading desk. The coffer is aggravating to amount out if there is abundant appeal from its audience including barrier funds, big investors and the like for it to access this new band of business. This would accomplish Barclays the aboriginal above coffer in London to action such a service.

Although the coffer says it still has no specific affairs to barrage a cryptocurrency trading desk, sources accept appear it has conducted a basic appraisal of appeal and feasibility. “We consistently adviser developments in the agenda bill amplitude and will abide to accept a chat with our audience on their needs and intentions in this market,” agent Andrew Smith said in a account to Bloomberg.

High Demand

Barclays Testing the Waters for a Cryptocurrency Trading DeskIf Barclays doesn’t appointment a advance aback from regulators, it should not accept a botheration award abundant appeal for such a account because the deluge of cryptocurrency barrier funds that hit the arena over the big assemblage of 2017. And abounding of those charge a ample and adapted adverse affair to accord with. The alone added above coffer anticipation to be in the action of entering the acreage is Goldman Sachs, although its CEO has denied the rumors they are ambience up a bitcoin trading desk.

As we appear beforehand this month, big players in the cryptocurrency amplitude accept set up their own clandestine arrangement for OTC trading, affairs and affairs billions every ages amid their little club. And instead of application any arrangement usually active by traders on Wall Street, they aloof close massive deals on Skype.

Do you anticipate it’s assured that added above banks will access the bitcoin trading ecosystem? Share your thoughts in the comments area below. 

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