Barclays is considering the use cases for a digital pound and how it might benefit the United Kingdom. The British banking giant outlined in a recent report how a digital currency could work alongside traditional finance to boost payment systems across the nation. The 333-year-old institution is one of the biggest companies in the UK with a market cap of around $32 billion.  Barclay’s exploration of a digital currency comes as governments around the world are looking into central bank digital currencies (CBDCs), with the Bank of England currently designing a possible UK CBDC. The latest research paper focuses on communication and interoperability to ensure smooth transactions between fiat currency and the proposed digital currency.

Topics:  united   kingdom   the british    barclay s   cbdc   fmi   payment interface providers(pips    pound   bank of   hm treasury   readwrite   in   uk   bank   england   barclays   uk s   currency   central   payments   proposed   secure   decision   economy   cases   future   transactions   report   market   system   billion   ensure   authors   simplify   services   
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