Story by the New York Business Journal
Barclays has signed a deal with a company building on the technology behind bitcoin as part of its recently complete FinTech accelerator in London.
With less than a month until Barclays (NYSE: BCS) kicks off the New York version of the same accelerator, the $80 billion bank has sent a powerful message about what it’s looking for.
Stockholm-based Safello, a European-focused bitcoin exchange, signed a proof of concept with Barclays to explore how blockchain technologies similar to those behind bitcoin could help the financial industry, according to a Finextra report yesterday. Safello had previously raised $968,000 in seed funding, according to Crunchbase.
The 13-week Barclays FinTech Accelerator New York is scheduled to kick off July 15 in partnership with Techstars, a national startup accelerator based in Colorado.
The accelerator, at which companies could be funded with up to $120,000 in exchange for a 6 percent to 8 percent stake in the company, was originally opened up to bitcoin startups, investment banking startups, lending startups and more.