Barclays Signs Up For Bitcoin Trial




Bank signs deal with Swedish start-up Safello to examine how to use Bitcoin



This marks the first time that a UK bank has announced such a deal with a Bitcoin company.

Digital Revolution

Barclays“At Barclays, we’re embracing the digital revolution, exploring innovations early on so that we can help to shape their development and co-create the future of financial services with these startups,” said Derek White, Barclays chief design and digital officer.

“We’re leading the industry with new pioneering technologies, which will be paramount to helping us achieve our ambition of becoming the ‘Go-To’ bank.”

Safello is one of ten businesses signed up to the second series of the Barclays Accelerator start-up program, which sees the bank support new innovations in the fintech sector.

This goes alongside the launch of a £100 million growth fund for UK technology firms announced last month, which could offer loans of up to £5 million to businesses which have already secured sufficient capital.

Barclays has a long history of integrating new technology into its business. So far this year, the company has launched a quick-scan app to speed up mortgage applications, and also announced plans to let users send money via Twitter using its Pingit service.

In December, the bank announced it would become the first UK bank to offer banking services via video call, meaning customers can now access services and speak to employees without needing to visit a branch, as well as equipping branch staff with iPads in a bid to deal with more customers face to face.

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Michael Moore

Michael Moore joined TechWeek Europe in January 2014 as a trainee before graduating to Reporter later that year. He covers a wide range of topics, including but not limited to mobile devices, wearable tech, the Internet of Things, and financial technology.

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