Key Developments
Barclays Looks at Blockchain for Payments, Deposits.
Barclays is reportedly evaluating a blockchain platform for payments, deposits and stablecoin applications as traditional banks respond to growing digital asset adoption.
Context
The UK lender is reportedly seeking a technology partner to support blockchain-based payments and deposits as stablecoin adoption accelerates across finance and Big Tech.
UK banking giant Barclays is reportedly exploring blockchain technology for core banking services, the latest sign that major financial institutions are evaluating digital ledger infrastructure to modernize legacy systems.
Citing people familiar with the matter, Bloomberg reported Friday that Barclays is seeking technology providers for a blockchain platform capable of handling payments, deposits and crypto-related applications such as stablecoins and tokenized deposits.
Market Implications
The lender has issued requests for information to several technology suppliers, though the companies were not identified. A vendor selection could be made as early as April, the report said.
Traders are likely to focus on follow-through volume, funding behavior, and whether newly tested levels hold through the next high-volatility session.
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