Two blockchain firms Chainalysis and Wave have signed deals with Barclays at the end of the bank's New York City fintech accelerator.

Barclays closed deals with eight winning companies that participated in the accelerator, two of which, Wave and Chainalysis, use the technology behind the bitcoin digital currency.

“The announcement of Chainalysis and Wave today is fundamentally a game-changer for us,” Derek White, Barclays’ chief design and innovation officer, said in an interview to the New York Business Journal.

Wave is an accounting start-up which experiments with paperless online bills using the blockchain technology.

Chainalysis is a New York-based start-up that works with financial institutions to confront cybercrime by identifying malicious agents. The team of developers is working on tools that will respect the customers' privacy and prevent abuse of the financial system.

Last week Barclays selected a bitcoin app ZapGo along with five other fintech start-ups to take part in Barclays Africa 13-week TechLab accelerator programme in Cape Town, South Africa. The programme led by industry leaders will provide start-ups with mentoring and development opportunities and will culminate in a demo day on 10 December where the participants will present their products to Barclays’ executives and potential investors.

In June bitcoin exchange Safello announced it reached a Proof-of-Concept agreement with the Barclays bank on bitcoin donations at the Barclays Fintech Accelerator Program Demo Day in London.

Aliona Chapel