Barclays has signed off on a proof-of-concept to trial bitcoin technology.
Following an agreement with bitcoin exchange Safello, the UK bank says it will explore how blockchain technologies could bolster the financial services sector. Exact details of the pilot are currently under wraps.
Speaking to Bitcoin News Safello CEO Frank Schuil said the announcement reflected changing attitudes in traditional finance:
"If a Tier I bank signing a proof-of-concept with a bitcoin company isn't a sign of the times then I don't know what is ... their attitude is changing and it is changing fast."
Safello was one of 10 FinTech startups taking part in Barclays' 13-week
accelerator programme, which began last year. The announcement, made at the cohort's demo session in London today, comes as an increasing number of banks are trialling distributed ledgers such as Ripple.
Six other startups at the event, including blockchain-diamond-tracker Everledger, are reported to be "exploring opportunities" with the UK bank.
Barclays image via chrisdorney / Shutterstock.com
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