Barclays Backs US Blockchain Company Circle as it launches in UK

200

Share with:


Barclays becomes the first major UK bank to enter into a partnership with a digital currency firm social payments app called Circle, that uses Bitcoin technology to move money between different currencies, according to Reuters.

Unlike a traditional money transfer company, however, Circle offers its users the opportunity to send not just written messages along with their money transfers, but also emojis and even animated “GIF” videos, with no charge, following in the footsteps of China’s WeChat Pay and AliPay.

“The founding vision for Sean and I was that money should work the way the internet works,” said Circle CEO Jeremy Allaire, who founded the company with fellow internet entrepreneur Sean Neville.

“This is the thing that I think we’re all learning from the Chinese: that this merging of messenging, media and payments together really makes sense to people.”

“The founding vision for Sean and I was that money should work the way the internet works,” said Circle CEO Jeremy Allaire, who founded the company along with Sean Neville. “This is the thing that I think we’re all learning from the Chinese: that this merging of messaging, media and payments together really makes sense to people.”

The Circle app launched in the UK on Wednesday after being granted an e-money license by UK watchdog the Financial Conduct Authority. The decision marks another first for a digital currency company.

Circle is a Boston-based startup backed by $76 million in venture capital by a few well-known financial institutions like Goldman Sachs, Breyer Capital, Oak Investment Partners, Accel Partners and General Catalyst. The company is expected to expand to further expand its services to cover the rest of Europe, South America, and Asia. As the blockchain gains more acceptance among the banks, we can expect the number of companies offering blockchain based services to increase, connecting the whole world to one decentralized database

 

About Richard Kastelein

Founder, Publisher and Editor in Chief of industry leading online publication, Blockchain News and co-founder and director at Blockchain Partners in London/Amsterdam/NYC. Kastelein is also an advisor with a number Blockchain startups doing ICOs including Humaniq.co where hs is interim CMO, DECENT.ch, Inchain, Chronobank, eGaas and others. He is regarded as one of the top journalists by the Blockchain and fintech communities – as is evident by his entry in the Top 150 Fintech journalists online and in the top 10 of the Blockchain Top 100 List.

As a prominent keynote presenter, he has spoken on Blockchain at events in Gdansk, Amsterdam, Minsk, Dubai, Antwerp, Eindhoven, Bucharest, Nairobi, Tel Aviv, Manchester, Brussels, Barcelona etc, where he helped spread the cause for Blockchain technology and cryptocurrency and, consequently, has built a notable network in the scene.

He’s also a director of a Dutch foundation called The Hackitarians and has run innovation events in London, San Francisco, Berlin, Amsterdam and other cities around the world on topics such Blockchain, Health, Energy, Internet of Things, AI etc.

In 2013, the European Commission appointed him as an expert for overseeing financing for emerging startups as a part of the European Commission’s 90 billion euro Horizon 2020 project, created in Brussels to promote innovation as a driving force of job creation and business ventures across Europe. He has also worked as an external expert for Innovate UK since 2012, judging startups for the UK government.

Visit Website
View All Articles
Buy Bitcoin at CEX.IO

Get Blockchain News Where You Are!

Join our Linked in GroupLike our Facebook Page
Linkedin Group BlockchainLinkedin Facebook Group