UK Banking Giant Barclays to Allow Charities to Accept Bitcoin
Barclays has revealed it will be pursuing a new partnership with an unnamed bitcoin exchange to help charities accept digital currency.
Barclays has announced it will take its first steps toward supporting the use of bitcoin as an alternative payment method by allowing charities to accept donations in the digital currency.
In a new article in The Sunday Times, the multinational financial services firm hinted that it had entered into a partnership with an unnamed "bitcoin exchange or spending platform", and that it would seek to begin a formal rollout of the service by 2016.
Barclays chief design and digital officer Derek White provided the news source with few details about the partnership, other than to state that it was in development.
White told the Times:
The announcement follows others that suggest the bank is steadily increasing its efforts to understand and implement bitcoin and blockchain technology.
Earlier this year, Barclays revealed it was pursuing a proof of concept with European exchange and services provider Safello, a move that followed March news that it had accepted three industry firms into its FinTech accelerator program.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.