Barclays has created a crack team of senior staff to explore how it can start trading cryptocurrencies, as more large investment banks look for ways take advantage of the fast-growing sector.

The UK lender has moved its global head of energy trading, Chris Tyrer, into a full-time role leading a so-called ‘digital assets project’ which will look into how it can integrate a digital assets trading desk into its markets business, despite recent concerns raised by its chief executive Jes Staley.