Barclays to Ban Crypto Purchases With Credit Cards

Barclays, a primary global financial service provider, will stop allowing crypto purchases with credit cards starting June 27, 2025. According to a blog post , the British multinational bank worries about risks like crypto fraud, market ups and downs, and consumer debt. This decision puts Barclays in line with other UK banks, which are limiting crypto transactions to protect their customers from financial harm. Barclays Protecting Consumers From Crypto Risks The financial giant warned that Bitcoin and other cryptocurrencies have huge price swings that can lead credit card users into serious debt. Furthermore, the lack of rules and protection for consumers in the crypto market influenced their decision. Barclays has joined other major UK banks like HSBC Holdings, NatWest, and Santander in banning crypto purchases with credit cards. This move follows warnings from the Financial Conduct Authority (FCA), which has labeled crypto as a high-risk investment, especially for retail customers. Notably, Barclays’ proactive step is part of its broader strategy to protect consumers and ensure financial responsibility. Meanwhile, the bank did not give details on a possible lift on the ban. Mastercard and Chainlink Enable Crypto Purchases However, in a reverse order, Chainlink joined forces with payment giant Mastercard to allow Chainlink’s three billion cardholders to purchase cryptocurrencies on-chain directly. As reported by TheCoinRise, this collaboration represents a step towards mainstream adoption of digital assets. It also offers a simple, non-custodial way for users to convert fiat currency into crypto. Mastercard’s move fits into its broader strategy of embracing blockchain technology in a practical and accessible manner . Earlier in the year, the company partnered with Kraken to issue crypto debit cards across Europe and the UK. Similarly, Mastercard’s rival, Visa, has intensified its crypto involvement. In late 2024, it teamed up with Coinbase to enable instant crypto deposits and withdrawals . Coinbase Enables Apple Pay for Crypto Purchases Last year, Coinbase announced that UK-based users can now purchase Bitcoin , Ethereum, and other digital assets using Apple Pay on their iPhones. This integration provides users with a more secure and private method of buying cryptocurrencies. As reported, enabling Apple Pay offers users heightened security as card numbers are not stored in the device or Apple servers. Instead, each transaction is assigned a unique device account number, which is encrypted and stored in a standard chip designed for secure payment information storage. The post Barclays to Ban Crypto Purchases With Credit Cards appeared first on TheCoinrise.com .

Source: The Coin Rise