Barclays, one of the leading financial institutions of the UK, decided to ban all crypto assets on bank cards. This decision will enter into force as of June 27, 2025. The bank shows the price fluctuations in the crypto asset market and the relevant assets to be uninsured as the reason for this step.
Comprehensive prohibition for crypto transactions
In a statement made by Barclays, it was announced to the public that customers will be completely prevented from trading crypto assets with bank cards. The bank states that the rapid depreciation is risky for customers. At the same time, it is pointed out that customers may enter under a debt burden that they cannot pay after such a decrease.
Barclays reminded that customers investing in the crypto lack legal protection against possible losses. Mechanisms such as British financial ombudsman service or financial services compensation program do not cover crypto assets. This poses an additional risk for customers.
“It is not possible to make crypto money transactions with a Barclaycard. As of June 27, 2025, we will prevent crypto transactions with Barclaycard. Because we see that there are certain risks in getting crypto money. A decrease in crypto asset prices can lead to the debts they cannot pay. Services are not guaranteed by the compensation program. ”
Reports about the bank’s crypto investments
Despite this ban on crypto assets, Barclays’ indirectly investing in the sector has claims. In the previously published reports, Bitcoin opened by the bank’s US -based Blackrock company $107,044.36 The stock market investment fund was reported to have invested hundreds of millions of dollars in IBIT.
Barclays, this fund, which began to be traded at the beginning of 2024, had 2,473,064 shares and has a position of approximately $ 137 million. These assets are probably kept for the private customers of the bank.
According to the current regulations, bank customers will not be able to access crypto assets directly by debit card. However, it is possible to participate in the crypto market with indirect financial products or alternative investment routes. If you remember, in 2021, we saw that the United Kingdom banks took such steps. HSBC and others later took part in part. Even though we go to some restrictions in Türkiye in 2017, we went to some restrictions and closing customer accounts, most of the banks started to provide crypto currency services or declared intention in this direction and started research. Over time, perhaps Barclays will enter the crypto currency business to earn more money, and in June 2025 he had made such a decision saying he would remember him in those days?
Behind Barclays’ decision is thought to be effective with customer security and compliance with the legislation. In particular, the fact that digital assets remain outside the scope of volatility and insurance can direct financial institutions to take additional measures. In order to reduce risks in crypto assets, it can be observed in the future in the future in the future as to whether similar practices will become widespread by institutions.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
