Comment on Barclays considers the use of a digital pound for UK

Barclays considers the use of a digital pound for UK

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.

 

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