Barclays is a British multinational bank and financial services company headquartered in London, which is offering products and services across personal, corporate and investment banking, credit cards and wealth management.
In a recent interview with BBC, Barclays has announced that customers will continue to be able to purchase cryptocurrencies using credit cards, despite the overall trend of banks banning cryptocurrency. For instance, british Lloyd’s Banking Group confirmed that it will block any cryptocurrency-related operations with credit cards.
We take precautions to assess affordability before extending credit, flag and prevent any suspicious transactions and also closely monitor credit risk.
The spokesperson from Barclays bank claimed in an interview with BBC that customers will be able to use both Barclays debit cards and Barclaycard credit cards to purchase cryptocurrencies.
As for the situation in other countries, US financial institutions like JP Morgan Chase & Co., Citigroup Inc. and Bank of America Corp. have announced that they had started blocking crypto transactions made with credit cards.