Two blockchain tech companies sign compliance deal with Barclays

News | August 20, 2016 By:

Barclays has signed contracts with two blockchain technology startups who participated in the bank’s New York accelerator programme.

The 11 startups graduating the 13-week program included bitcoin compliance firm Chainalysis and accounting startup Wave, which will embark on the initiatives.

Derek White, Barclays chief design officer, described the pacts with bitcoin compliance firm Chainalysis and accounting outfit Wave as a “game changer” for the bank.

Barclays indicated it would partner with Chainalysis to allow its financial crime and transaction monitoring teams to obtain the necessary information to transact with bitcoin companies.

Wave, in turn, is working with Barclays’ Corporate Bank on a project that finds it using its solution for titles during shipping processes.

Barclays is a British multinational banking and financial services company headquartered in London.