Today in crypto, Barclays is reportedly in the early stages of building a platform that can handle stablecoin and tokenized deposit settlement, the UK gambling regulator is considering allowing punters to bet using cryptocurrencies, and Jack Dorsey’s Block announced cuts to 40% of its staff, citing growing AI-driven efficiencies
Barclays explores blockchain for payments and stablecoins
Barclays is reportedly exploring the use of blockchain technology to support payments, deposits and stablecoin activity, signaling deeper interest from a major global bank in digital asset infrastructure.
According to Bloomberg, the UK lender has approached technology providers about building a platform that could handle tokenized deposits and 24/7 settlement, and may choose a partner in the coming months. The effort would mark a significant step toward integrating blockchain into Barclays’ core banking systems rather than limiting it to experimental pilots.
The move comes as traditional financial institutions ramp up stablecoin and tokenization initiatives amid growing regulatory clarity and rising institutional demand. If Barclays proceeds, it would join a widening group of global banks betting on blockchain-based payments.
UK gambling regulator weighs allowing crypto payments for online betting
The United Kingdom’s Gambling Commission is exploring how cryptocurrency could be used for payments at licensed online casinos, as the country prepares to bring more crypto activity under a new regulatory regime led by the Financial Conduct Authority (FCA).
Tim Miller, the commission’s executive director for research and policy, said Thursday that the regulator wants to examine “the potential path forward” for allowing “cryptoasset to be used as a consumer payment option for licensed and regulated gambling in Great Britain.” Miller made the remarks at the Betting and Gaming Council’s annual general meeting in London, according to his published speech.
Companies carrying out regulated crypto activities will require authorization by the FCA under the Financial Services and Markets Act 2000 (FSMA) when the new regime commences, Miller said.
“And that, as well as the growing appetite we see from punters, means we do now want to start looking at what the potential path forward would be to create a way for cryptoasset to be used as a consumer payment option for licensed and regulated gambling in Great Britain.”
Jack Dorsey’s Block to cut 4,000 jobs
Jack Dorsey’s payments company Block is set to cut around 40% of its staff in a major shake-up, a decision the co-founder attributed to the rapid acceleration of AI at the company.
“We're already seeing that the intelligence tools we’re creating and using, paired with smaller and flatter teams, are enabling a new way of working which fundamentally changes what it means to build and run a company, and that's accelerating rapidly,” wrote Dorsey in a letter to the company, which he shared on X.
“I had two options: cut gradually over months or years as this shift plays out, or be honest about where we are and act on it now. I chose the latter. Repeated rounds of cuts are destructive to morale, to focus, and to the trust that customers and shareholders place in our ability to lead,” he added.
Affected employees will receive 20 weeks of salary, plus one additional week for each year of tenure, six months of health care coverage, their corporate devices and an extra $5,000 for personal needs, Dorsey said. Employees will be notified today if they are losing their jobs or entering consultation.
