UK Banking Giant Barclays May Open a Cryptocurrency Trading Desk

One of the world’s largest investment banks is quietly holding high-level discussions about establishing a dedicated cryptocurrency trading desk.

Bloomberg reports that Barclays Plc, the second-largest bank in the UK, has begun gauging client interest in setting up a cryptocurrency trading desk.

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.

Goldman Sachs is also rumored to be taking steps to set up a cryptocurrency trading desk that will begin making markets by the end of the second-quarter, though Goldman CEO Lloyd Blankfein has publicly denied this report.

Notably, the bank already has indirect ownership in a cryptocurrency trading desk through its investment in Circle, whose over-the-counter (OTC) desk handles several billions of dollars in cryptocurrency trades per month.

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