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Barclays Takes Stake in Stablecoin Settlement Firm Ubyx

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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.

RBC Launches New AI and Innovation Team to Drive Capital Markets Growth

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Royal Bank of Canada (RBC) has established a new Artificial Intelligence and Digital Innovation team within its capital markets division, as the country’s largest lender ramps up efforts to use AI for enhancing trading, research, and operational efficiency.

The newly formed team will operate out of New York, Toronto, and London, and report to Lindsay Patrick, who has been appointed Chief Strategy and Innovation Officer. The move marks a strategic shift in how RBC intends to position itself in the global financial services landscape as AI adoption accelerates across the banking sector.

Bobby Grubert, who previously worked on RBC’s flagship generative AI platform Aiden and the bank’s data-driven research tool RBC Elements, will lead the unit as Head of AI and Digital Innovation, reporting directly to Patrick.

Strategic AI Push

RBC has been steadily expanding its AI capabilities. In March, the bank revealed it expects to earn up to C$1 billion ($722 million) from AI investments, underscoring the technology’s importance in the bank’s future growth strategy.

“We are betting on AI to speed up training, streamline processes, and improve overall efficiency,” said CEO Dave McKay, who also noted positive feedback from technology partners, including Nvidia CEO Jensen Huang.

Within capital markets, RBC has already been leveraging Aiden — developed in collaboration with research institute Borealis AI — to automate electronic trading, improve operational workflows, and enhance data analytics.

Derek Neldner, Head of RBC Capital Markets, said Aiden is being used to scale front-to-back automation, improve electronic execution, and deliver data-powered research and insights.

Industry-Wide AI Race

RBC is among several major banks globally accelerating their investment in AI to:

  • Automate document processing and customer interactions,

  • Enhance fraud detection and compliance,

  • Improve research delivery and trade execution.

Rival Bank of Montreal (BMO) has also appointed a Chief AI and Data Officer, and other Canadian and global banks are rapidly building out internal AI capabilities.

By formalizing its AI strategy within a dedicated team, RBC is aiming to consolidate its early leads and position itself at the forefront of AI-driven capital markets innovation.

RBC Bets on AI for Growth Amid Trade Uncertainty

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Royal Bank of Canada (RBC, RY.TO) is set to generate C$700 million to C$1 billion from its AI investments by 2027, CEO Dave McKay revealed at the bank’s first investor day since 2018. The revenue will come from business growth and technology cost savings, underscoring AI’s crucial role in RBC’s expansion strategy.

AI-Driven Innovation

McKay highlighted how generative AI can enhance employee capabilities, improve customer service, and automate key processes. RBC is utilizing Nvidia (NVDA.O) chips to create AI-powered avatars capable of engaging personal banking clients and offering product insights.

Growth Targets & Market Expansion

Despite trade uncertainties and potential tariff disruptions, RBC remains committed to achieving a 16% return on equity by 2027. The bank aims to:

  • Expand globally in capital markets and wealth management

  • Increase its U.S. market share, competing with Wall Street giants like JP Morgan

  • Strengthen personal banking and wealth segments in Canada

Challenges Ahead

RBC executives acknowledged that tariff-related uncertainties may slow corporate investment. However, they emphasized that long-term growth strategies remain unchanged.

RBC’s stock was down 0.9% in Toronto during afternoon trading.