Barclays has invested capital in US-based stablecoin consensus startup Ubyx to take a closer look at regulated “tokenized money” infrastructures. ReutersThe development reported by ‘s on Wednesday stood out as the British bank’s first direct financial involvement in a company focusing on stablecoin technology. While the bank stated that the investment was compatible with its strategy of developing digital money solutions within the regulatory framework, it did not share details about the financial size of the agreement.
What Does Barclays’ Investment in Ubyx Mean?
Barclays’ investment shows that the bank is focusing on the infrastructure and consensus layer rather than directly issuing stablecoins. Barclays aims to work with Ubyx on tokenized currency models within regulatory limits, sources told Reuters. The bank’s approach is based on a long-term perspective to produce digital money solutions that are compatible with the existing financial system and auditable.
Ubyx started its operations in 2025 and operates a clearing system that reconciles transactions between different stablecoin issuers. The company completed a $10 million seed investment round led by Galaxy Ventures in July last year. Coinbase Ventures, Founders Fund and VanEck also participated in the round. Last month, former US Commodity Futures Trading Commission member Brian Quintenz joined the team as an advisor.
The timing of Barclays’ investment in Ubyx is also noteworthy. This step, which comes at a time when the stablecoin market is growing rapidly and regulatory discussions are intensifying, indicates Barclays’ desire to recognize and guide the technology at an early stage. While the bank keeps its distance from crypto money on the customer side, it prefers to take an active role on the infrastructure side.
Banks’ Search for Tokenized Money Has Gained Acceleration
The Ubyx investment is seen as part of broader efforts by global banks in the tokenized currency space. In October, Barclays joined a consortium with nine major institutions, including Goldman Sachs and UBS, to examine a regulated stablecoin pegged to G7 currencies. In Europe, a separate initiative including ING, UniCredit and other banks decided to establish a company to issue a MiCAR-compatible euro-based stablecoin, and the target date was announced as the second half of 2026.
Market data clearly shows why stablecoins attract so much attention. Total stablecoin supply has risen to over $290 billion, and Tether’s USDT represents more than 64 percent of the market at approximately $187 billion. Although its area of use is mainly to provide reconciliation and liquidity in the cryptocurrency market, an increasing role in cross-border payments is noteworthy.
To date, only a limited number of banks have issued stablecoins. While the euro and dollar-indexed coins of Societe Generale’s cryptocurrency SG-FORGE are in circulation, US giants such as Bank of America and Citigroup are content to examine the issue. Barclays, on the other hand, follows a balanced strategy by choosing to proceed through the infrastructure and partnership model, while restricting the purchase of cryptocurrencies with credit cards.
