NatWest has confirmed the launch of a new digital team as it enhances its focus on blockchain.
As part of the expansion of their team and the next step in its growth strategy, Chris Agathangelou has been confirmed as NatWest’s new Head of Digital Capital Markets.
“Distributed ledger technology will increase transparency, minimise costs, lead to faster execution and increase capital efficiency for NatWest Markets’ clients,” the bank emphasised in a statement.
It’s a move that underlines the bank’s focus on blockchain tech and growing the role of digital innovations in the mainstream finance space.
The decision comes as the UK experiences growth in digital currency engagement – with the current government increasing its focus on the tech.
Nonetheless, a House of Lords report recently dismissed the idea of forming a central bank digital currency (CBDC) in the UK – the group cited that ‘concept seems to present a lot of risk for very little reward’.