Barclays Bank is evaluating the construction of a blockchain platform to handle payment and deposit services

Odaily News Barclays Bank has sent information request letters to some potential technology suppliers to evaluate how to build a blockchain platform to handle banking services such as payments. Its application directions may include stablecoins and tokenized deposits, with the goal of completing supplier selection as early as April.

The application of stablecoins in the payment field is expanding. Bloomberg Intelligence estimates that by 2030, the annual transaction volume of stablecoin payments could exceed 50 trillion US dollars. Previously, Meta was also testing the integration of stablecoin payments into its applications. Several banks have already begun to deploy blockchain systems. JPMorgan previously launched the deposit token JPM Coin for payments to institutional clients, and HSBC plans to expand its tokenized deposit services to corporate clients in the United States and the United Arab Emirates in the first half of this year.