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- Barclays is investing in the crypto company “Copper.”
- The institution is planning to hold a share in the company
- Barclays left everyone in shock after its decision
Barclays, a multinational universal bank in the UK, is investing in one of the largest companies, Copper, and is willing to hold a share in the company.
After the crypto industry is facing downfall, anyone, especially the country’s central bank, is not ready to invest or acquire shares in crypto-related companies. So, the move of Barclays left everyone in shock.
The downfall has led some companies to trouble. Companies like Three Arrows Capital, Celsius, Vauld, etc., have even filed for Bankruptcy.
Because of these reasons, the directors and regulators of finance in Britain are not interested in such a thing, leaving the company to plan for its relocation to Switzerland.
Sky News has reported that Barclays is also investing in the cryptocurrency company Copper, like many other companies, and it plans to spend millions to hold a share in the company. The institution will decide on the fund in the coming days.
Copper was launched in 2018, and the headquarters are in London, England. The main service of this platform is to provide support and infrastructure to the investors.
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The UK and the crypto market
Andrew Bailey, the Governor of the Bank of England, has banged the crypto industry very badly, but many officials oppose these steps.
Chris Philip, the Digital Minister of Britain, has stated that the prime minister of the United States, Boris Johnson, wants to make the state a global cryptocurrency center. But, if he wants to take the initiative, it must be taken in a way that will protect the consumers and the employment of virtual assets and prevent criminal activities.
However, the PM of the nation, Johnson, had to resign from his post due to many allegations of his government accusing many misconduct and corruption during the COVID-19 pandemic.
Now, everyone is expecting Rishi Sunak to become Britain’s new prime minister. He highlighted the government’s plan to make Britain a global crypto center a few months ago.
He said, “We want to see the businesses of the coming days along with the jobs that the industry will create in the United Kingdom.”
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
