One of the largest financial institutions in the U.K., Barclays Bank, has announced it will prohibit customers from using its payment cards for cryptocurrency transactions. The restriction, starting on 27 June, cites the volatile nature of crypto prices, which could leave users with unaffordable debt.
The statement was shared on the help desk of the Barclays Bank’s official website in response to a question about whether users can use their Barclaycard to make a crypto transaction. Replying to this, the bank says, “No, it’s not possible to make cryptocurrency transactions using a Barclaycard.”
“From 27 June 2025, we’ll block crypto-transactions made with a Barclaycard because we recognize there are certain risks with purchasing cryptocurrencies,” the bank adds. Barclays’ statement clarifies the ban targets all credit card transactions, aiming to shield customers from potential financial ruin.
While the U.K. government aims to integrate crypto firms with transparency rules, Barclays’ action reflects a cautious stance.
Moreover, cryptocurrency adoption is rapidly surging, and more banks from Europe and across the globe are integrating crypto assets for their customers. But this surprising move from Barclays Bank has raised a serious discussion.
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