Barclays Seeks Blockchain Tech Provider for New Settlement Engine, Sources Say

Global banking giant Barclays is actively searching for a technology provider to build a new blockchain-based settlement engine, according to a report from Bloomberg. The initiative signals a major move by the traditional financial institution to leverage distributed ledger technology (DLT) for improving the efficiency and security of its settlement processes. While specific details on the chosen blockchain platform remain undisclosed, the exploration highlights the growing institutional adoption of blockchain solutions beyond cryptocurrencies. This development is seen as a step towards modernizing financial market infrastructure, potentially reducing costs and settlement times for complex transactions.