Barclays CEO Dismiss Report on Launching Crypto Trading Desk

Barclays CEO Pushes Back Against Crypto Trading Desk Reports

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  • Barclays CEO, James Edward “Jes” Staley, repudiates crypto trading desk reports.
  • He stated that digital currency is presently representing “a real challenge for [Barclays].”

Last month April, people knowledgeable about the matter reported that Barclays Plc has been investigating clients’ response about launching crypto trading desk. However, Barclays CEO, James Edward “Jes” Staley, has declared that the UK-based banking giant has no intention of launching a crypto trading desk in the near future.

The UK media channel, Financial News, reported on Tuesday 1st May that Staley made this comment in reply to questions from shareholders during the bank’s annual meeting

According to James, the bank has no plan of setting up a crypto trading desk despite the recent rumors about Barclays’ investigation of clients’ response about trading cryptocurrencies. Presently digital currency represents “a real challenge for us,” James stated.

This announcement follows a report from last month that suggested that the bank was sampling out the opinions of customers regarding starting a crypto trading desk. Though a spokesperson said then that Barclays might not move ahead with the plan, James’s response has signaled that the bank is officially denying the likelihood of launching a crypto trading desk – at least not for now.

Although, James declared that the bank is looking into crypto-related businesses with those regulatory issues in mind.

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