Barclays to ban all encryption transactions on its banking cards, indicating the risk of volatility
One of the largest financial institutions in the United Kingdom (UK) prevents all encryption transactions on its banking cards.
In new mailThe UK bank’s Titan Barclays says it prohibits all transactions associated with digital assets on their payment cards that start on June 27 due to the volatile price of encrypted currencies and because they are unsafe assets.
“It is not possible to make encrypted currency transactions using the BarclayCard card. As of June 27, 2025, we will prevent encryption transactions made from Barclay Card because we realize that there are certain risks with the purchase of encrypted currencies.
We do this because the low price of encryption assets may lead to customers in debts that they cannot pay. There is also no protection for encryption assets if something wrong occurs in the purchase, as it is not covered by the Service of the Secretary of Financial Grievances and Financial Services. “
However, despite the last ban on encryption assets, previous reports indicate that Barclays has invested hundreds of millions of dollars in IBIT, Bitcoin Fund (BTC) in Blackrock (BTC), which was launched in January 2024, is currently the largest ETF based on BTC depending on the trading volume.
In February, the bank revealed to the US Securities and Stock Exchange Committee (SEC) that it owns 2,473,064 shares from IBIT, at a value of $ 137 million at the time.
IBIT is trading at 60.98 at the time of writing this report, which represents an increase of 1.5 % over the past 24 hours.
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Disclosure: The views expressed in Daily Hodl are not an investment advice. Investors must do due care before making any high -risk investments in bitcoin, cryptocurrency, or digital assets. Please note that your transfers and trading on your own responsibility, and any losses you may bear are your responsibility. Daily Hodl does not recommend buying or selling any encrypted currencies or digital assets, and Hodl Daily Andersor is an investment. Please note that the daily Hodl participates in dependent marketing.
Distinguished Image: Shutterstock/Vvaldmann/Natalia Siiatovskaia
