Barclays Digital Asset Project a No Go?

Despite recent reports and employee’s describing a “Digital Asset Project” on LinkedIn, Barclays is denying the existence of such a project.

Barclays stated that it has “no plans for a crypto trading desk.” Even though both employees Mattieu Duval and Chris Tyrer removed the project from their profiles, Duval still stated that the information was “accurate.” Further, Barclays, Duval, and Tyre received inquiries from media sources for comments, however none have responded.

Barclays is not the only platform that has been seemingly planning a crypto-project, but denied such an opportunity in the works. For instance, insiders at Goldman Sachs identified that the bank had a crypto-custody service planned. However, the bank responded stating that it had “not reached a conclusion” on the digital assets.

Another asset management company, BlackRock, also offered conflicting reports. The company’s CEO Larry Fink mentioned that the firm’s clients had no interest in crypto, while also mentioning that the company’s plans to form a working group to assess Bitcoin involvement.

At this point, most major companies are keep a tight lip on any blockchain and cryptocurrency related projects. It doesn't seem like they are wanting to have a first movers advantage, but rather take an approach that is well thought out and provides a solid execution while we are still in the “early” days of cryptocurrency.

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