Barclays has taken its first direct equity position in a stablecoin company, buying a stake in US-based settlement firm Ubyx as global banks move from testing digital assets to building the plumbing for them.
Barclays Backs US Clearing Firm Ubyx in First Stablecoin Equity Deal
7 January 2026 - 11:00 CET
By Sandmark staff
The investment, reported by Reuters, signals a shift beyond pilot projects for the British lender. Barclays stated the deal forms part of its effort to explore “new forms of digital money” but declined to disclose the size or valuation of the investment.
The interoperability play
Launched in 2025, Ubyx operates a clearing and settlement system designed to reconcile stablecoins issued by different entities.
As the number of fiat-pegged tokens grows, led by Tether with roughly $187bn in tokens outstanding, market fragmentation has become a critical issue. Financial institutions seeking to move tokenized funds across issuers currently face split liquidity and increased counterparty risk.
Barclays stated that it intends to work with Ubyx to develop “tokenized money within the regulatory perimeter,” positioning stablecoins as regulated financial infrastructure rather than speculative instruments.
Banks build the rails
The move comes amid a shift in policy signals in the US and Europe that has reduced regulatory uncertainty around digital assets. A more permissive stance from Washington has reopened discussions on how blockchain-based settlement might be integrated into the mainstream financial system.
Major lenders are increasingly approaching stablecoins as extensions of existing payment systems. In October 2025, Barclays joined a consortium of global banks, including Goldman Sachs and UBS, to explore issuing a jointly backed stablecoin pegged to G7 currencies.
Ubyx has previously attracted investment from the venture capital arms of Coinbase and Galaxy Digital, according to data from PitchBook. Barclays’ participation adds a major European bank to that investor base and potentially positions the startup as a bridge between crypto-native markets and traditional finance.
