Barclays has acquired a stake in US-based stablecoin settlement firm Ubyx, its first direct investment in stablecoin infrastructure.
Barclays has acquired a stake in US-based stablecoin settlement firm Ubyx. This is the British multinational bank’s first direct investment in a company focused on stablecoin infrastructure.
The bank confirmed the move to Reuters on January 7. Barclays added that the Ubyx stake fits its strategy to explore new forms of digital money while operating within regulatory limits.
The size and valuation of the investment were not disclosed. Barclays said it does not plan to issue a retail stablecoin but will work with Ubyx on developing tokenized money inside the regulatory perimeter.
What Ubyx Does
Ubyx was launched in 2025 and operates a clearing and settlement system for stablecoins. Its platform is designed to reconcile tokens issued by different companies and across multiple blockchains.
The system allows users to deposit stablecoins from various issuers directly into bank or fintech accounts, a process Ubyx calls universal redemption.
The goal is to make stablecoins easier to use in regulated financial systems.
Ubyx raised $10 million in seed funding last year, led by Galaxy Ventures, with participation from Coinbase Ventures, Founders Fund, and other crypto-focused investors.
Banks Focus on Infrastructure, Not Issuance
Barclays’ move indicates that banks are increasingly targeting stablecoin rails rather than issuing tokens themselves. In October, Barclays joined a group of major institutions exploring a shared stablecoin pegged to G7 currencies.
Across Europe, separate bank-led initiatives are working toward regulated euro-denominated stablecoins, with launches expected in 2026.
Most large banks remain cautious, focusing on settlement infrastructure instead of consumer-facing crypto products.
Barclays has previously blocked crypto purchases via credit cards and continues to avoid speculative exposure, despite increasing involvement in blockchain-based settlement systems.
Stablecoins Grow as Trading Slows
Total stablecoin supply has climbed above $317 billion, led by USDT with roughly $187 billion in circulation.
Most stablecoin activity remains tied to settlement and liquidity within crypto markets, with growing interest in cross-border payments.
However, in December 2025, the bank warned that spot crypto volumes are trending lower in 2026, with few clear catalysts for renewed retail demand.
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