Market Chatter: Barclays Explores Blockchain Platform for Payments

MT Newswires Live02-27

Barclays (BCS) is consulting technology providers to develop a blockchain system for managing financial transactions, Bloomberg reported Friday, citing people familiar with the matter.

The bank has issued requests for information to prospective tech suppliers to assess the development of these new services, the news outlet quoted the people as saying.

The plan will reportedly encompass applications involving stablecoins and tokenized deposits, and the company intends to choose its partners for the project as early as April, Bloomberg reported.

Barclays did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 24.42, Change: -0.88, Percent Change: -3.46

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