Barclays Makes First Stablecoin Investment With Stake in Ubyx

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Quick Breakdown

• Barclays invests in Ubyx, marking its first direct stake in a stablecoin-related company.
• The bank is prioritizing regulated, enterprise-grade digital money, not retail crypto trading.
• Institutional momentum around stablecoins continues to build in 2025.

Barclays has taken its first direct step into the stablecoin ecosystem by investing in U.S.-based stablecoin settlement firm Ubyx, signalling growing institutional interest in regulated digital money infrastructure.

While the bank did not disclose the size or structure of the investment, it told Reuters the move aligns with its broader push to explore “new forms of digital money” within clear regulatory boundaries.

Barclays takes first equity stake in stablecoin firm Ubyx, a 2024 U.S. startup offering clearing/settlement for easier stablecoin redemption across issuers. Fits bank’s tokenized money work. Previously funded by certain compliance-focused platforms and Galaxy Digital ventures.

Founded in 2024, Ubyx operates a global clearing and settlement network designed to connect stablecoin issuers with banks and fintech platforms. Its system enables universal redemption, allowing users to deposit stablecoins from multiple blockchains directly into traditional bank or fintech accounts.

The company raised $10 million in seed funding in June 2025, led by Galaxy Ventures, with backing from certain compliance-focused platforms, Founders Fund, Paxos, and others.

As part of the partnership, Barclays and Ubyx plan to collaborate on developing tokenised money that operates inside the regulatory perimeter, according to the report.

Barclays Deepens Focus on Regulated Digital Money

Barclays’ interest in blockchain technology dates back several years. In 2018, the bank filed multiple blockchain-related patents and partnered with major compliance platforms, marking its early engagement with the crypto sector.

Since then, it has pursued distributed ledger technology largely through enterprise-focused and regulated initiatives, including investments in firms like Fnality, which is building decentralized financial market infrastructure.

The bank also participated in a UK pilot for tokenised deposits under the UK Regulated Liability Network, aimed at improving payment systems using shared ledger technology.

Stablecoins Over Speculation

Despite its growing interest in stablecoins, Barclays has maintained a cautious stance toward speculative crypto assets. In June 2025, it blocked crypto purchases made with its credit cards, distancing itself from retail crypto trading.

At the same time, it has joined other major financial institutions, such as Goldman Sachs and UBS, to explore the possibility of issuing a joint stablecoin pegged to G7 currencies.