Barclays Invests in Ubyx to Shape the Future of Digital Currency Infrastructure

What Does Barclays’ Investment in Ubyx Mean?

Barclays’ investment strategy underscores its focus on the infrastructure and settlement layers of stablecoin technology rather than direct issuance. According to sources speaking to Reuters, Barclays aims to work alongside Ubyx on tokenized money models within regulatory boundaries. This long-term perspective seeks to create digital currency solutions that are compatible with existing financial systems and can be audited effectively.

Founded in 2025, Ubyx operates a clearing system that reconciles transactions among various stablecoin issuers. In July of the previous year, Ubyx completed a $10 million seed investment round led by Galaxy Ventures, with participation from Coinbase Ventures, Founders Fund, and VanEck. Additionally, former US Commodity Futures Trading Commission member Brian Quintenz joined the team as an advisor last month.

The timing of Barclays’ investment in Ubyx is notable. As the stablecoin market rapidly expands and regulatory discussions intensify, this move reflects Barclays’ desire to understand and guide the technology from its early stages. While the bank remains cautious about cryptocurrency on the customer side, it is taking an active role in the infrastructure space.

Banks Accelerate Their Search for Tokenized Money

The Ubyx investment is part of wider efforts by global banks in the tokenized money domain. In October, Barclays joined a consortium with nine other major institutions, including Goldman Sachs and UBS, to explore a regulated stablecoin pegged to G7 currencies. Meanwhile, in Europe, a separate initiative involving ING, UniCredit, and other banks aims to launch a MiCAR-compliant euro-based stablecoin by the second half of 2026.

Market data clearly illustrates why stablecoins are garnering such interest. The total stablecoin supply has surpassed $290 billion, with USDT representing over 64% of the market with approximately $187 billion. Although primarily used for settlement and liquidity in the cryptocurrency market, their growing role in cross-border payments is also noteworthy.

To date, only a limited number of banks have issued stablecoins. For instance, Societe Generale’s cryptocurrency SG-FORGE has euro and dollar-linked coins in circulation, while American giants like Bank of America and Citigroup are merely studying the topic. Barclays adopts a balanced strategy by restricting cryptocurrency purchases via credit cards while advancing through infrastructure and partnership models.