Investment bank Barclays has reportedly put its cryptocurrency trading project on hold.
According to a Financial News report, the British multinational bank decided to halt the project in September. The project reportedly involved analyzing the fundamentals and prospects of digital currencies, measuring client's interest in investing in such products and understanding the infrastructure required for trading in the crypto space. However, a Barclays spokesperson denied that the bank was opening a cryptocurrency trading desk.
The bank, however, has applied for three patents for a blockchain system that aims to help banks/financial institutions create and issue digital currency units backed by fiat currency.