Barclays, the UK’s second-largest bank by market capitalization, has announced a strategic investment in Ubyx, a U.S.-based crypto startup that offers a clearing system for digital money, including tokenized deposits and regulated stablecoins. The move underscores Barclays’ view that tokenized money is gaining traction and that regulated financial institutions will play a central role in its development. Barclays highlighted progress in regulatory processes across jurisdictions, growing adoption, and emerging use cases as reasons for the investment.
Ryan Hayward, 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. Tony McLaughlin, CEO of Ubyx, commented: Our mission is to build a common globalised acceptance network for regulated digital money, including tokenised deposits and regulated stablecoins. Bank participation is vital to provide par value redemption through regulated channels.
We are entering a world in which every regulated firm offers digital wallets in addition to traditional bank accounts. Barclays and Ubyx said they will remain committed to the responsible development of tokenized money within the regulatory perimeter.
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