UK-based bank Barclays has denied it is working on cryptocurrency products despite two employees removing LinkedIn evidence they were doing so after receiving mainstream media attention, Business Insider reports August 6.
Duval had written he was involved in a “digital asset project” and was “hired to produce a business plan for integrating a digital assets trading desk into Barclays’ markets business: revenue opportunity, competitive landscape, budgeting and planning for delivery, I.T. buildout, capital & balance sheet impact.”
After Business Insider approached Barclays for comment, however, Duval removed the information while nonetheless confirming it was “accurate.” Tyrer, whose LinkedIn had described him as the head of the digital assets project, declined to comment.
Barclays, as well as Duval and Tyrer, have not responded to Cointelegraph’s request for comment by press time.
The curious events continue what has become a growing trend among banks of denying cryptocurrency interest at a senior level while appearing to actively develop an approach to the phenomenon elsewhere.
A similar story emerged from BlackRock, the world’s largest asset manager, whose CEO Larry Fink last month claimed none of its clients had an interest in cryptocurrency exposure while at the same time the company formed a working group to assess Bitcoin involvement.