Barclays has become the first big British bank to form a partnership with a digital currency firm, social payments app Circle, which runs partly on bitcoin’s blockchain network and launched in the UK on Wednesday.
In what Britain’s Treasury called a “major milestone” in its push to make the UK the world’s capital for financial technology, or fintech, Circle was granted an e-money license by the Financial Conduct Authority, the UK watchdog – another first for a digital currency company.
The Boston-based start-up, which is backed by $76 million in venture capital and counts Goldman Sachs and former JP Morgan executive Blythe Masters’ Digital Currency Group among its investors, said the license would allow it to hold users’ money and to facilitate domestic and international payments.
Unlike a traditional money transfer company, however, Circle offers its users the opportunity to send not just written messages along with their money transfers, but also emojis and even animated “GIF” videos, with no charge, following in the footsteps of China’s WeChat Pay and AliPay.
https://endtime.com/wp-content/uploads/2020/06/endtime-logo.png 0 0 alphatimes https://endtime.com/wp-content/uploads/2020/06/endtime-logo.png alphatimes2016-04-06 00:00:002018-03-28 18:07:58Barclays becomes the first big UK bank to back a digital currency firm