Barclays is weighing a move into cryptocrurency trading, potentially pitting it against US rival Goldman Sachs in the fast-emerging field.

The British bank has sounded out potential clients about setting up a cryptocurrency trading desk, in what would be a first for a European investment bank.

The scoping work is understood to be at an early stage and has not been considered by the bank’s top team. The story was first reported by trade title ICO Journal and Bloomberg.

A Barclays spokesman said: “Barclays has no plans at this time to build a cryptocurrency trading desk.

“We constantly monitor developments in the digital currency space and will continue to have a dialogue with our clients on their needs and intentions in this market going forward.”