Barclays Makes First Equity Investment Linked to Stablecoins

Barclays has taken a major step into digital assets by making its first equity investment linked to stablecoins, backing US start-up Ubyx.

Founded in 2025, Ubyx operates as a clearing layer for stablecoins — digital tokens pegged one-for-one to traditional currencies — with the goal of reconciling tokens issued by different providers.

The platform connects multiple issuers with multiple receiving institutions in a shared settlement environment, allowing redemption of digital money at par value and supporting the singleness of money.

Ubyx aims to make stablecoins easier to settle and redeem, so tokens from rival issuers function more like interchangeable cash rather than competing payment instruments.

The bank did not disclose the size of its stake or Ubyx’s valuation, but said the investment reflects its intention to develop digital money within existing regulatory frameworks.

Ryan Hawyard, head of digital assets and strategic investments at Barclays, said:  "Interoperability is essential to unlock the full potential of digital assets. As the landscape of tokens, blockchains and wallets evolves, specialist technology will play a pivotal role in delivering connectivity and infrastructure to enable regulated financial institutions to interact seamlessly.”

The move also supports Barclays’ ambition to strengthen its position as a UK-centred leader in global finance as digital assets move closer to the mainstream.

Barclays has long been committed to supporting the development of stablecoins. In October, the bank joined a consortium of ten major international banks to explore creating a 1:1 reserve-backed digital currency on public blockchains.

The initiative focuses on developing a "stablecoin-like" asset tied to G7 currencies, leveraging blockchain technology to improve cross-border payments and capital markets efficiency while ensuring full regulatory compliance.