We Are at the Beginning of Tokenization, Circle CEO Says

The financial company Circle’s CEO, Jeremy Allaire spoke of the “never before seen” crypto revolution
14 June 2018   407

Blockchain can transform every aspect of finance and positively affect all sectors of the economy. This was stated by the general director of the payment startup Circle Jeremy Allaire, CoinDaily reports.

The unprecedented crypto-revolution is only the beginning of the process of general tokenization, the developer noted.

Circle's CEO listed the benefits of a tokenized global economy where stored in any form "public information becomes a cryptotoken," which has a market value and is traded on global digital asset exchanges.

Aller also said that "house, car, or service" can be tokenized using crypto assets, and any property can become the subject of financial relations.

As previously reported, the start-up Circle announced its intention to obtain a banking license at the federal level in the United States.

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.