Barclays has halted work on a cryptocurrency trading project including what IT infrastructure is needed, according to sources familiar with the situation speaking to Financial News, in the latest twist for banks hoping to tap into the burgeoning sector.
The investment bank put together a senior team earlier this year to look at how it could incorporate the trading of digital assets into its markets business. The initiative, however, has been put “on ice”, one of the people said. The digital-asset project was headed by Chris Tyrer, former head of energy trading, who has departed Barclays.