Barclays, recognized as one of the largest banks in the world and a systemically important global financial…

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Barclays, recognized as one of the largest banks in the world and a systemically important global financial institution, has officially made its first investment in a company within the stablecoin sector. The United Kingdom-based banking giant announced on Wednesday that it had invested in Ubyx, a clearing platform based in the United States. Ubyx serves a specific function in the market by aiming to connect regulated stablecoin issuers with traditional banks and fintech companies. Ryan Hayward, who serves as the head of digital assets and strategic investments at Barclays, emphasized that as the landscape of tokens, blockchains, and wallets continues to evolve, specialist technology will play a pivotal role in delivering connectivity and infrastructure to enable regulated financial institutions to interact with digital assets seamlessly.

While the bank has confirmed the strategic move, Barclays did not disclose the specific size of the investment. This financial backing follows a $10 million seed funding round that Ubyx completed in June 2025. The investment marks a milestone for the bank, as it represents the first time the institution has taken a stake in a company specifically focused on stablecoin-related infrastructure. By supporting Ubyx, Barclays is positioning itself to better understand and utilize the clearing mechanisms required for regulated digital currencies as they become more prevalent in the global financial system.

Context

Ubyx was founded in March 2025 by payments industry veteran Tony McLaughlin. Before establishing Ubyx, McLaughlin spent more than 20 years at Citi, where he was responsible for managing payments and cash flows. His extensive background in traditional finance has informed the mission of Ubyx, which is to build a common globalized acceptance network for regulated digital money. This mission encompasses both regulated stablecoins and tokenized deposits, aiming to bridge the gap between traditional banking and the emerging digital asset space. McLaughlin has highlighted the growing role of tokenized financial services, describing a future where every regulated firm offers digital wallets in addition to traditional bank accounts.

The platform developed by Ubyx was specifically designed to enable the broad adoption of stablecoins across the financial sector. This includes support for digital assets issued by major industry players, such as Ripple and Paxos. By creating a standardized infrastructure for clearing these assets, Ubyx seeks to provide the technical foundation required for regulated institutions to handle digital money with the same level of confidence as traditional fiat currencies. The company’s focus on regulated money distinguishes it within the broader crypto market, targeting the specific needs of institutional players and established financial entities that require high levels of compliance and reliability.

Impact

The investment in Ubyx signifies a notable shift in the strategic approach Barclays takes toward the cryptocurrency and digital asset industry. For several years, the bank has maintained a cautious stance, frequently highlighting the risks associated with the sector and implementing measures to restrict some crypto-related transactions. For instance, in June 2025, Barclays announced that it would begin blocking customers from making cryptocurrency purchases on its Barclaycard credit cards. The bank cited the extreme volatility of cryptocurrencies as the primary reason for this restriction. However, the decision to take an equity stake in Ubyx suggests a more nuanced strategy that separates volatile crypto assets from regulated stablecoins and digital money infrastructure.

Barclays has stated that this investment aligns with its current approach to explore various opportunities based on new forms of digital money, such as stablecoins. Rather than focusing on retail trading of volatile assets, the bank appears to be prioritizing the underlying infrastructure that facilitates the movement of regulated digital assets. This move suggests that systemically important financial institutions are becoming increasingly interested in the plumbing of the digital economy. By investing in a clearing platform like Ubyx, Barclays is securing a position in the development of networks that could eventually handle a significant portion of global payment and settlement activity using tokenized assets.

Outlook

Looking forward, Barclays plans to continue exploring opportunities that arise from the development of new forms of digital money. The bank’s leadership, including Ryan Hayward, views the evolution of blockchains and digital wallets as a long-term trend that requires robust infrastructure. The partnership with Ubyx is expected to provide Barclays with insights into how regulated financial institutions can interact seamlessly with stablecoin issuers and other fintech participants. As the industry moves toward a world where digital wallets are as common as traditional bank accounts, the importance of a globalized acceptance network for regulated digital money is expected to grow. Ubyx is positioned to be at the center of this transition by providing the connectivity and infrastructure that banks require.

The company’s goal remains the creation of a common network for both tokenized deposits and regulated stablecoins, ensuring that these assets can be accepted and cleared across the global financial system. By focusing on regulated issuers and assets from established players like Ripple and Paxos, Ubyx aims to foster an environment suitable for broad institutional adoption. For Barclays, the investment serves as a foundation for navigating the future of payments and cash management in an increasingly tokenized economy. The bank will likely monitor how these technologies integrate into existing regulatory frameworks while seeking new ways to leverage digital money for its global operations and client services.