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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.

Europol Urges Financial Sector to Prepare for Quantum Computing Risks

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Europol’s Quantum Safe Financial Forum has called on Europe’s financial industry to start preparing for the potential risks posed by quantum computers, which could break commonly used encryption methods within the next 10 to 15 years. The group, which focuses on safeguarding sensitive financial data, issued a warning on Friday about the risks quantum computing poses to customer confidentiality, peer communications, authentication processes, and trust in digital signatures.

Although quantum computers capable of such threats may still be a decade or more away, the timeline could accelerate, the forum warned. Despite the emerging risks, the forum believes new regulations are unnecessary, as current European Union data protection laws are sufficient.

The Quantum Safe Financial Forum includes representatives from the U.S., European, and British central banks, along with major financial institutions such as Allianz, Santander, Barclays, BNP Paribas, Mastercard, Moody’s, and European banking associations.

Quantum computers operate by leveraging subatomic particles to perform calculations more efficiently than traditional binary computing systems. Given their potential to decrypt today’s secure communications, the forum recommended that financial institutions begin identifying which cryptographic standards are vulnerable to quantum computing and start drafting operational plans to mitigate future risks.

The forum also cautioned that criminals may already be storing sensitive encrypted data with the intention of decrypting it once quantum computing becomes more powerful.

The U.S. government has already set a 2035 deadline for federal agencies to become “quantum resistant,” underscoring the urgency for global financial institutions to follow suit.

Apple Negotiates with Barclays and Synchrony to Replace Goldman Sachs in Credit Card Partnership

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Apple is currently in talks with Barclays and Synchrony Financial to replace Goldman Sachs as its credit card partner, according to sources familiar with the matter. This move comes as Goldman Sachs steps back from its consumer finance ambitions, following the launch of the Apple Card in 2019. Barclays and Synchrony are now vying for the opportunity to partner with one of the world’s most recognizable brands, although the original terms of the deal were viewed as risky and unprofitable by several financial firms.

Negotiations between Apple and Barclays have been ongoing for several months, but sources suggest that it could take some time to finalize a deal. JPMorgan Chase has also been in talks with Apple regarding the partnership. Despite the credit card agreement between Apple and Goldman Sachs lasting until 2030, Goldman’s CEO David Solomon mentioned during an earnings call that the partnership may end sooner than expected.

Goldman Sachs has been scaling back its consumer business after spending billions to cover potential losses. In 2024, the company transferred its General Motors credit card business to Barclays, allowing the latter to expand its card offerings in the U.S. This shift aligns with Goldman’s decision to reduce its retail ambitions, focusing instead on its traditional investment banking and trading operations.