JPMorgan May Work on Quorum's Spin-Off

Bank giant believes that independence from the bank could increase the platform's appeal
23 March 2018   764

Referring to anonymous sources, the Financial Times and Reuters report that this step, if done, will be aimed at increasing the attractiveness of the platform.

The Quorum open source project was launched in 2016 and is a private version of the Ethereum blockchain. JPMorgan presented the project at the annual Sibos conference.

We continue to believe distributed ledger technology will play a transformative role in business which is why we are actively building multiple blockchain solutions. We’re not going to comment on speculation, but Quorum has become an extremely successful enterprise platform even beyond financial services and we’re excited about its potential.
 

JP Morgan Spokesman

Reuters could not find out if the current employees of the Quorum project would join the new venture. It is also unknown what role the new head of the innovation center of the blockchain of JPMorgan, Ember Bolde, currently responsible for the development of Quorum, will do.

Barclays to Freeze Crypto Trading Project

This is reported by two anonymous sources to Financial News London
15 October 2018   197

One of the largest UK bank Barclays has suspended work on its own crypto-trading project, Financial News reports citing two sources familiar with the situation.

Earlier this year, the bank gathered a high profile team to explore opportunities for cryptocurrency trading as part of its own business. However, according to one source, the initiative was “frozen”.

The former head of Barclays for energy trading, Chris Tyrer, who headed the “digital assets project,” left the bank in September after management decided to freeze the initiative.

Together with Tyrer, the macro-strategy in the field of foreign exchange and emerging markets was Marvin Barth, Senior Technical Specialist Lee Brain, and Consultant Matthew Jobb Duval.

Their task was to determine whether cryptocurrencies are an asset class with far-reaching prospects, whether Barclays customers are interested in them and what type of IT infrastructure will be needed to work with them, the source said.