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Report: Barclays throws support behind new UK digital currency firm

BarclaysPlc has launched a partnership with Boston-based "socialpayments app" Circle, Reuters reported April 6.

Circle launched in the U.K. on the same day, using bitcoin'sblockchain network to provide some of its money-transfer services in pounds anddollars.

The fintech startup is reportedly using an account providedby Barclays' corporate banking division to store sterling for customers andinfrastructure needed to transfer money between Circle and bank accounts in theU.K.

Circle, having received from the U.K. FCA an e-moneylicense, is able to facilitate domestic and international payments, Reutersnoted, which added that plans are underway at Circle to launch its service inother European countries later in 2016, including in euros. Incountries where Circle is not present, a transfer is one currency is firstconverted into bitcoin before making its way into another currency, Reutersexplained, adding that Circle lets customers attach "emojis" andanimated "GIF" videos in their transfers, at no additional charge.