Barclays Bank, one of the leading financial institutions in the United Kingdom, has announced a ban on the purchase of crypto assets using credit cards starting from June 27, 2025. The changes will apply to all credit card holders of the bank and are aimed at reducing financial risks for customers.
This is reported by Business • Media
Reasons for the New Restrictions and Impact on Customers
Barclays states that the decision has been made against the backdrop of high volatility in the cryptocurrency market. Significant fluctuations in the value of digital assets may lead to customers being unable to repay their credit card debts on time. Furthermore, the bank emphasizes that digital assets are not covered by the protection of British financial ombudsmen or government guarantee mechanisms.
“We are taking steps to protect customers from potential financial losses,” said a statement from Barclaycard.
The ban applies exclusively to credit cards. Those wishing to conduct cryptocurrency transactions will need to seek alternative payment methods—such as using debit cards or bank transfers.
Market Trends and Position of Other Banks
Barclays is not the first bank to implement such restrictions. Similar measures regarding the sale of crypto assets via credit cards have been introduced by other major financial institutions, such as HSBC and NatWest. According to experts, this reflects a broader trend in the banking sector to reduce credit risks associated with unstable digital assets.
Despite the restrictions, Barclays is not abandoning its exploration of blockchain technology opportunities. In the past, the bank has already shown interest in decentralized technological solutions for its financial services.
Forecasts suggest that the new ban will affect a significant number of customers who previously used credit cards to purchase crypto assets. However, the bank insists that such measures are necessary to protect not only the interests of customers but also the stability of the financial system in the event of sharp changes in the cryptocurrency market.
Interestingly, it was recently reported that the largest bank in South Korea has applied for trademark registration in the field of stablecoins, indicating a growing interest in digital currencies worldwide.