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Barclays Bank Takes GBP Deposits For New UK Bitcoin Exchange Bit121

Barclays is taking sterling deposits for a new bitcoin exchange, making it the only UK bank to do so currently.

Banks in the UK have avoided working with bitcoin exchanges so far, but customers of new bitcoin exchange Bit121 can deposit their sterling to a Barclays account with a Canary Wharf address.

The account belongs to a payment service provider called PacNet Services Ltd, which Bit121 works with. Barclays therefore does not have a direct relationship with the bitcoin exchange.

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