Is Barclays Opening Crypto Trading? Bank and Traders Offer Differing Takes
Two bank employees have been working on setting up a new cryptocurrency trading desk in Barclays, one of the UK’s ‘Big Four’ banks.
At least, that’s what it says on their LinkedIn profiles. Business Insider reports that Chris Tyler’s profile stated that he’s been “hired to produce a business plan for integrating a digital assets trading desk into Barclays’ marketing business.”
It reportedly went on to say that revenue opportunity, competitive landscape, budgeting and planning for delivery, I.T. buildout, and capital and balance sheet impact were all areas Tyler had been tasked with addressing in the creation of the crypto trading desk.
The LinkedIn profile has since been edited and no longer contains this information at the time of writing – Tyler described the information as accurate, but declined to comment further on the matter. Matthieu Jobb Duval, a former Barclays oil trader, was listed as a consultant on the project.
However, while the staff profiles stated their roles in establishing the trading desk, a Barclays spokesperson said otherwise. After confirming that Duval and Tyler are Barclays employees, the spokesperson said that Barclays has no plans to set up a digital assets trading desk at this time.
The bank was rumored to be looking into such a project in April when Bloomberg reported that Barclays was actively gauging client interest in a crypto trading desk.
“We constantly monitor developments in the digital currency space and will continue to have a dialog with our clients on their needs and intentions in this market,” spokesman Andrew Smith said in an emailed statement.http://t.me/whaleagent