Barclays Invests in Ubyx to Boost Regulated Stablecoins

Key Highlights

Barclays has bought a stake in Ubyx, a U.S.-based stablecoin startup, to explore regulated digital money.
Ubyx runs a system to clear transactions across different stablecoin issuers.
The investment follows banks’ growing efforts to create tokenized money and regulated stablecoins.

Barclays, a major British bank, has acquired a stake in Ubyx, a U.S.-based startup focused on stablecoin settlement infrastructure, potentially marking its first direct investment in stablecoin technology.

As per the official announcement, the bank said it wants to explore new forms of digital money and will work with Ubyx to develop “tokenized money within the regulatory perimeter.” Barclays did not disclose the size or valuation of the investment.

Ubyx’s role in the crypto space

Ubyx was founded in 2025. In July, the firm announced a $10 million seed funding round led by Galaxy Ventures, with participation from Coinbase Ventures, Founders Fund, and VanEck.

The company operates a clearing system designed to manage transactions across different stablecoin issuers. Last month, former Commodity Futures Trading Commission commissioner Brian Quintenz joined Ubyx as an adviser.

Moreover, Ryan Hayward, Head of Digital Assets and Strategic Investments at Barclays, commented on the investment, stating, “Interoperability is essential to unlock the full potential of digital assets. As the landscape of tokens, blockchains and wallets evolves, specialist technology will play a pivotal role in delivering connectivity and infrastructure to enable regulated financial institutions to interact seamlessly.”

He added, “We are pleased to be joining Ubyx on their journey as we drive forward our shared ambition to accelerate and shape innovation across our industry.”

European banks collaborating on regulated stablecoins

The investment follows a trend of banks exploring new ways to use tokenized funds. In October 2025, Barclays joined nine other big banks, including Goldman Sachs and UBS, to study issuing a regulated stablecoin linked to several G7 currencies.

In Europe, nine banks, including ING, UniCredit, KBC, Danske Bank, DekaBank, SEB, CaixaBank, Banca Sella, and Raiffeisen Bank International, announced the formation of a new company to launch a MiCAR-compliant, euro-denominated stablecoin, expected in the second half of 2026.

This also comes as stablecoin sees more interest. Currently, the market has surpassed $300 billion in market capitalization. Tether’s USDT accounts for roughly $187 billion, which is over 64% of the market.

Stablecoins are mainly used for trading and moving money in crypto markets, and more people are using them for cross-border payments. In recent times, some banks, like Societe Generale, have issued euro- and dollar-backed tokens, while others, like Bank of America and Citigroup, are still exploring options.

Barclays has maintained its focus on building systems and joining bank groups, rather than issuing its own stablecoins, and has limited crypto purchases with credit cards due to risks and fraud concerns. The bank has previously restricted cryptocurrency purchases via credit cards due to concerns about volatility and fraud.

Several other UK banks have taken similar steps. For instance, JPMorgan Chase’s UK branch placed a ban on crypto purchases with cards after a surge in scam claims.