British bank Barclays has put along a team of senior employees members to explore how it will begin trading cryptocurrencies, according to a report by Barrons.

Two staff are reportedly engaged on a project planning to integrate cryptocurrencies into the firm’s transaction, the report said. each staff have published the information on their LinkedIn profiles, however Barclays declined to elaborate any more on what the staff were acting on, another article by Business insider noted.

Barrons, however, identified 3 staffs as a part of the new “digital asset project” at the bank. The team is reportedly led by former global head of energy trading Chris Tyrer, who is joined by head of FX strategy Marvin Barth and Dr. Lee Brain, a engineer who has been studying blockchain technology for the bank since 2015.

Meanwhile, Barclays representative stated that the bank "has no plans at now to create a cryptocurrency trading desk."

Barclays chief executive officer Jes Staley has previously expressed skepticism towards cryptocurrencies. Throughout the bank’s annual general meeting in may he said:

“Cryptocurrency is a genuine challenge for us as, from one viewpoint, there's the innovative side of it and desperate to remain in the bleeding edge of technology’s development of finance. On the other side of it, there's the chance of cryptocurrencies being utilized for activities that the bank desires to own no part of.”

Also, in April, Barclays analyst Joseph Abate compared Bitcoin to an communicable disease, saying that it would be over very soon.

As has previously reported by a news company ,that Goldman Sachs, Fidelity Investments, and a number of monetary establishments are engaged on setting up their own crypto dealings, partly as their customers are demanding access to that. Meanwhile, Larry Fink, chief executive officer of BlackRock, the world’s largest asset manager, said in July that he doesn't see huge capitalist demand for crypto.

In either case, as Tuur Demeester, a well-liked economic expert and bitcoin capitalist, points out that the majority of that institutional interest comes from trading companies and market makers. In different words, these are establishments that don’t essentially hold bitcoin as an investment, however rather makes cash off of the volatility or by creating markets.

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