Barclays and Safello to co-create a bitcoin platform

Announcements | June 26, 2015 By:

Barclays has signed off on a proof-of-concept partnership with Safello to try the bitcoin technology.

“Safello and Barclays will be working together on creating a new payment platform that will support bitcoin. The collaboration begins with a PoC trial to allow for donations to be sent to charities using Bitcoin,” said Safello CEO and co-founder Frank Schuil.

Following an agreement with bitcoin exchange Safello, the UK bank says it will explore how blockchain technologies could bolster the financial services sector.

The announcement, made at the Barclays Accelerator demo session in London, comes as an increasing number of banks are trying distributed ledgers such as Ripple.

Barclays is a British multinational banking and financial services company headquartered in London. Safello is a bitcoin compliance and security provider.