Barclays Plans Blockchain Platform for Payments and Tokenized Deposits
Barclays Bank is exploring blockchain-based payment and deposit systems, with vendor selection potentially occurring as early as April 2025 to enhance operational efficiency.
Summary
Barclays Bank is considering the creation of a blockchain-based platform to manage payments and deposits, according to Bloomberg on February 27, 2025. The UK financial institution has issued Requests for Information to multiple technology providers and may choose a vendor by April 2025. The initiative aims to increase operational efficiency in payments and deposit management, indicating further integration of blockchain systems in traditional banking infrastructure.
Terms & Concepts
- Blockchain: A decentralized digital ledger that records transactions securely across a network.