Barclays Takes Stake in Stablecoin Settlement Firm Ubyx
British lender Barclays said on Wednesday it has bought a stake in U.S.-based stablecoin settlement company Ubyx, marking its first investment in the stablecoin sector as it explores what it called “new forms of digital money.”
Founded in 2025, Ubyx operates a clearing and settlement system for stablecoins — cryptocurrencies pegged one-to-one to traditional currencies — with the goal of reconciling tokens issued by different providers. Barclays said the investment reflects its interest in developing tokenised money within existing regulatory frameworks.
The move comes as banks and financial institutions increasingly revisit blockchain-based payments and settlement solutions, buoyed by rising cryptocurrency prices and renewed political support for the sector in the United States under President Donald Trump. Despite the renewed momentum, many blockchain and stablecoin initiatives by traditional banks remain at an early stage.
Barclays said it and Ubyx share a commitment to building tokenised money “within the regulatory perimeter.” The bank was also among a group of 10 lenders — including Goldman Sachs and UBS — that said in October they were exploring the possibility of jointly issuing a stablecoin linked to G7 currencies.
“This investment aligns with Barclays’ approach to explore opportunities based on new forms of digital money, such as stablecoins,” a spokesperson for the bank said.
Barclays declined to disclose the size or valuation of the investment but confirmed it was its first stake in a stablecoin-related company. Venture capital arms of crypto firms Coinbase and Galaxy Digital have also previously invested in Ubyx, according to PitchBook.
The stablecoin market has expanded rapidly in recent years, dominated by Tether, which has about $187 billion worth of tokens in circulation. Stablecoins are primarily used to move funds within cryptocurrency markets but are increasingly being examined for broader use in payments and financial settlement.
