Barclays denied that the bank account holders will be able able to accept bitcoin later this year. This was stated in the media, including The Sunday Times and Ars Technica with regard to charities.

The Sunday Times published a report on 30 August that suggested that Barclays is considering accepting bitcoin for charities donations. The article cited Derek White, chief design and digital officer at Barclays, who said: “Barclays is enabling the bitcoin exchange to help charities accept bitcoin.” The news spread quickly in the media and some of them were reporting more openly that Barclays was to become the first accepting bitcoin UK bank.

However, Barclays did not confirm this in an email to CCN. 
"Barclays is not accepting or holding any Bitcoin as some outlets have suggested," Candice Macdonald, Vice President of Group Media Relations at Barclays, wrote. "No Bitcoin is travelling through Barclays systems."

Nevertheless Macdonald confirmed that Barclays is working with some charity clients in a proof-of-concept mode to help them raise funds using bitcoin. CoinFox reported earlier that the bitcoin exchange Safello announced the agreement with Barclays on bitcoin donations in June 2015. Safello and Barclays were supposed to work together to develop a new payment platform that will support bitcoins. The Proof-of-Concept trial is planned to involve bitcoin donations sent to charities. 

We wrote recently about bitcoin and other financial innovations as transformative for fundraising practices. P2P donations may increase efficiency with more money reaching people in need and allow for greater fundraising creativity as surveys of philanthropy institutions claim.

Aliona Chapel