Barclays Bank Invests in Stablecoin Clearing Platform Ubyx

Barclays has acquired a stake in U.S. stablecoin settlement company Ubyx, marking the British bank’s first investment in the stablecoin sector. The move aligns with Barclays’ broader strategy to explore new forms of digital money. The bank did not disclose the size of the investment.

Ubyx was founded in March 2025 by Tony McLaughlin, a payments industry veteran. The company operates as a clearing system for stablecoins, which are cryptocurrencies pegged 1:1 to fiat currencies. Its platform aims to reconcile tokens created by different issuers.

Barclays’ investment in Ubyx represents a notable shift in the bank’s approach to cryptocurrencies. In June 2025, Barclays said it would begin blocking crypto purchases on Barclays credit cards, citing volatility risks. Now, the bank is actively investing in infrastructure for stablecoins.

Why Did This Happen?

Barclays’ investment in Ubyx is part of its broader digital money strategy. The bank cited the evolving landscape of tokens, blockchains, and wallets as key factors in its decision. Barclays also emphasized the need for regulated financial institutions to interact seamlessly with digital money systems.

Ubyx has already raised $10 million in a seed funding round in June 2025. The round was led by Galaxy Ventures and included participation from Coinbase Ventures and other U.S. crypto firms. Barclays’ investment now adds another major player to Ubyx’s investor base.

Barclays did not provide details on the valuation or size of its investment. However, the move suggests the bank is preparing for a future where digital wallets are as common as traditional bank accounts. Tony McLaughlin has emphasized that every regulated firm may soon offer digital wallet services.

The stablecoin market has grown significantly in recent years. Tether’s USDT leads the market with over $187 billion in circulation. Other stablecoins, including those from Paxos and AllUnity, are also gaining traction in financial markets.

Barclays’ decision to invest in Ubyx reflects a broader industry trend. Other banks, including Société Générale and Bank of America, are also examining stablecoin issuance and settlement infrastructure. However, regulatory clarity remains a key challenge for widespread adoption.