Bank in UK plans to open a Crpytocurrency Trading Desk.

[kjnfmplm]

What do you think about this one? Apparently, a bank in UK is planning to open a Crypto Trading Desk - Barclays, the second-largest bank in the UK, but is still in early stages. They even have an indirect ownership of an existing Crypto Trading Desk in Circle, which handles a lot of transactions per day.

What can be the effects of it once it will be implemented in the bank? Is it a good idea to have one?

I think that it will have a good effect on Bitcoin, and will make it more popular. Since if this will be implemented, investors might be a feel a little sense of security once it will be handled by a bank. Although, some may just invest in Bitcoin without knowing first what it is. You know, the kind of people who only ride with the hype.

Source

For more info, this is the link.

[Larster]

Cryptocurrencies are ment to live without banks, so any involvement of bank industry looks a bit suspicious to me. On the other hand - it is probably inevitable that banks and crypto will have to merge at some point and that will hopefully bring stability to the system as a whole.

[metenjean]

I don't really trust such article since it comes from a crypto-supporter website, its only a matter of time until bank stepped up their game and trying to outplayed crypto exchanger by using regulation to outdo them. If this news really comes to truth then i supposed the regulation for bitcoin and other crypto should also be finalized first. Everything that not restrain bitcoin from developing is good news for the crypto community. 

[kjnfmplm]

I don't really trust such article since it comes from a crypto-supporter website, its only a matter of time until bank stepped up their game and trying to outplayed crypto exchanger by using regulation to outdo them. If this news really comes to truth then i supposed the regulation for bitcoin and other crypto should also be finalized first. Everything that not restrain bitcoin from developing is good news for the crypto community. 

Is that so?  I don't really have any ideas on what websites to visit to find the latest news on Cryptocurrencies. Do you have any suggestions on where should I look?

But, I really think that it is a good news to the crypto community. Once it gets finalized or implemented, the investors might have a boost, and we might see another all-time high.

[Notcalculator]

Well if that news is true, then what's happening here is that they're treating crypto just like stocks. Which isnt a bad place to start with, to keep the ball rolling to mass adoption. The bank's involvement with crypto isnt something we should hate. Realistically, they're not going away from a long time. But atleast with crypto we have a safe space to protect our assets from inflation.

[qyn0]

If the news are correct then is a good news! In this times majority of the banks are against crypto!

[Lakai01]

Its a very positive sign for the market in general, but in my opinion a very negative one for the whole cryptospace. Cryptos are ment to exist without the influence of any bank.

[Webberson]

Cryptocurrency is at the verge of breaking out and gaining massive acceptance and so, the banks do not want to be actually left out on this, which is why i believe the UK plans to open a cryptocurrency trading desk in order to be vest towards the rendering of services.

[malikusama]

I don't really trust such article since it comes from a crypto-supporter website, its only a matter of time until bank stepped up their game and trying to outplayed crypto exchanger by using regulation to outdo them. If this news really comes to truth then i supposed the regulation for bitcoin and other crypto should also be finalized first. Everything that not restrain bitcoin from developing is good news for the crypto community.  

It's good to not trust random articles, the real source is given at the end of this article i.e . https://www.ccn.com/barclays-may-open-a-cryptocurrency-trading-desk/ , BTW it is still quite confusing and i don't know whether to believe it or not.

If it is true then it will be a great initiative by banking authorities for the first time and it will create a positive impact of cryptos over the world, may be they began to realize the importance of cryptocurrencies.

[Slow death]

For more info, this is the link.

I do not see your link, but use this: Barclays Is Talking to Clients About Opening a Crypto Trading Desk

source: https://www.coindesk.com/barclays-talking-clients-opening-crypto-trading-desk/

When reached for comment, Barclays spokesman Andrew Smith told CoinDesk:


" Barclays has no plans at this time to build a cryptocurrency trading desk. We constantly monitor developments in the digital currency space and will continue to have a dialog with our clients on their needs and intentions in this market going forward. "

What can be the effects of it once it will be implemented in the bank? Is it a good idea to have one?

this is just a rumor that has already been denied by the bank

[CryptosGeek]

It is a great news, considering how many bitcoin traders and hodl-ers are in the UK. Do you think some extra laws will be implemented thought?

[TheQuin]

this is just a rumor that has already been denied by the bank

Not exactly.

I posted about it yesterday, the original story comes from Bloomberg quoting a source.

https://www.bloomberg.com/news/articles/2018-04-16/barclays-is-said-to-be-sounding-out-clients-about-trading-crypto

Barclays Plc has been gauging clients’ interest in the British bank starting a cryptocurrency trading desk, potentially joining Goldman Sachs Group Inc. in pioneering a new business on Wall Street, according to people with knowledge of the matter.

The denial "no plans at this time" doesn't contradict that they have been talking to clients to gauge their interest.

[eternalgloom]

For more info, this is the link.

I do not see your link, but use this: Barclays Is Talking to Clients About Opening a Crypto Trading Desk

source: https://www.coindesk.com/barclays-talking-clients-opening-crypto-trading-desk/

When reached for comment, Barclays spokesman Andrew Smith told CoinDesk:


" Barclays has no plans at this time to build a cryptocurrency trading desk. We constantly monitor developments in the digital currency space and will continue to have a dialog with our clients on their needs and intentions in this market going forward. "

What can be the effects of it once it will be implemented in the bank? Is it a good idea to have one?

this is just a rumor that has already been denied by the bank

Yes, but they have actually looked into it and have done some research through some sort of survey, I think.

Barclays has so far only done a preliminary assessment of demand and feasibility, said the people, who asked not to be identified because the information isn’t public. The bank said Monday it currently has no concrete plans to start such an operation.

source: https://www.bloomberg.com/news/articles/2018-04-16/barclays-is-said-to-be-sounding-out-clients-about-trading-crypto

So, I think it's fair to say that they do have an interest in it, but it will depend on possible demand for the service whether they will implement it or not.

[kjnfmplm]

For more info, this is the link.

I do not see your link, but use this: Barclays Is Talking to Clients About Opening a Crypto Trading Desk

source: https://www.coindesk.com/barclays-talking-clients-opening-crypto-trading-desk/

When reached for comment, Barclays spokesman Andrew Smith told CoinDesk:


" Barclays has no plans at this time to build a cryptocurrency trading desk. We constantly monitor developments in the digital currency space and will continue to have a dialog with our clients on their needs and intentions in this market going forward. "

What can be the effects of it once it will be implemented in the bank? Is it a good idea to have one?

this is just a rumor that has already been denied by the bank

This is the link that I am talking about.

https://dollardestruction.com/2018/04/18/uk-banking-giant-barclays-may-open-a-cryptocurrency-trading-desk/

I am sorry if you did not see it, since I am new to using the Insert Hyperlink button. But if you read it here in the link that I've given.

The discussions are still preliminary, sources say, and the bank is attempting to determine the feasibility of such an operation, as well as whether there is sufficient client demand to justify a full-featured trading desk.

“We constantly monitor developments in the digital currency space and will continue to have a dialog with our clients on their needs and intentions in this market,” Barclays spokesman Andrew Smith told the publication, adding that the bank does not currently have any plans to open a cryptocurrency trading desk.

I am sorry again that I overlooked the denial part. But, I'll still ask the same question. Let's say hypothetically that they changed their minds and eventually open up a cryptocurrency trading desk, what will be the effects?

[TheQuin]

I am sorry again that I overlooked the denial part. But, I'll still ask the same question. Let's say hypothetically that they changed their minds and eventually open up a cryptocurrency trading desk, what will be the effects?

Have a look at the link to the original Bloomberg story two posts above. There is no denial of the report that they have been discussing it with clients to gauge interest.

As for the effects, it would open the market up to a much wider pool of institutional customers.

Hedge Funds

Demand for such services is plentiful. Hedge funds that deal with bitcoin and other virtual currencies have been eager to find banks to handle transactions -- much like prime brokers do with securities -- and potentially serve as custodians of digital assets. Some money managers have struggled to expand into crypto, in part because of rules that prevent them from using unregulated exchanges to trade and hold investments.

[Dmitry.Vastov]

What do you think about this one? Apparently, a bank in UK is planning to open a Crypto Trading Desk - Barclays, the second-largest bank in the UK, but is still in early stages. They even have an indirect ownership of an existing Crypto Trading Desk in Circle, which handles a lot of transactions per day.

What can be the effects of it once it will be implemented in the bank? Is it a good idea to have one?

I think that it will have a good effect on Bitcoin, and will make it more popular. Since if this will be implemented, investors might be a feel a little sense of security once it will be handled by a bank. Although, some may just invest in Bitcoin without knowing first what it is. You know, the kind of people who only ride with the hype.

Source

For more info, this is the link.

Obviously this is the very good news if any country is planning for bitcoin because there are still many countries who doesn't find bitcoin to be much reliable and if country is UK is planning to open a trading desk for BTC, then it is more than a good news and if in present scenario, the government is not able to regulate BTC and if banks are taking such a great initiative then people will also think that the money, they are investing, is in safer hands.

[Jet Cash]

I believe it is bad news if it is true. I think the Rothschild banking system want to suck as many Bitcoins into long term storage as they can, and thus reduce its ability to handle everyday payments.

[LeGaulois]

Fake News Network

We got the same news last year(about JPS Morgan if I'm correct) During the next following days, the Bitcoin value jumped a little. Some weeks later it turned to be a fake news. Don't believe everything you read and verify information or you will be fooled like many others

[TheQuin]

Fake News Network

We got the same news last year(about JPS Morgan if I'm correct) During the next following days, the Bitcoin value jumped a little. Some weeks later it turned to be a fake news. Don't believe everything you read and verify information or you will be fooled like many others

It's only the title of the thread that is fake. The news was actually that Barclays has been talking to their clients to gauge the level of interest. That is very different from "plans to open". When Barclays responded to the news by putting out a denial they actually confirmed that the dialogue with their clients had occurred. Whether or not that leads to anything happening is a different question but it still shows that the main investment banks are starting to take Bitcoin seriously.