Barclays has officially signaled a major shift in its digital asset strategy by making its first-ever investment in a stablecoin-focused company. The UK banking giant has taken a stake in Ubyx, a US-based clearing platform designed to bridge the gap between regulated digital money issuers and traditional financial institutions. This move marks a pivot for the bank, which has historically maintained a cautious—and at times restrictive—stance toward the broader cryptocurrency market.
While the specific financial details of the investment remain undisclosed, the partnership highlights Barclays’ intent to play a central role in the emerging infrastructure of tokenized finance. Ubyx acts as a specialized connector, allowing banks and fintech companies to interact with regulated stablecoins and tokenized deposits through a unified network.
Why Barclays is Betting on Stablecoin Clearing Infrastructure
The decision to back Ubyx is less about speculating on digital currencies and more about securing a seat at the table for the future of global payments. As financial systems modernize, the industry is moving toward “tokenization”—the process of converting traditional assets and currencies into digital tokens that live on a blockchain.
According to Ryan Hayward, Barclays’ head of digital assets and strategic investments, specialist technology is now a requirement for legacy banks to stay relevant. He noted that as the ecosystem of wallets and blockchains matures, infrastructure providers like Ubyx will be the “glue” that allows regulated institutions to operate seamlessly in a digital-first economy. By investing in a clearing platform rather than a specific coin, Barclays is positioning itself as a foundational player in the regulated digital money landscape.
Bridging the Gap Between Traditional Banking and Digital Wallets
Ubyx was launched in early 2025 by Tony McLaughlin, a veteran of the payments industry with over two decades of experience at Citi. McLaughlin, a self-described “tokenized money maximalist,” envisions a future where digital wallets are as common as standard checking accounts. The Ubyx platform is specifically designed to support the adoption of stablecoins from major industry players, including Ripple, Paxos, AllUnity, and Eurodollar.
This investment is particularly noteworthy given Barclays’ previous skepticism. Only six months ago, the bank moved to block crypto purchases on its Barclaycard credit cards, citing concerns over market volatility. However, by focusing on regulated stablecoins—which are typically pegged to stable assets like the US Dollar or Euro—Barclays is distinguishing between speculative “crypto” and the “digital money” infrastructure it believes will redefine global commerce.
The Ubyx platform aims to create a globalized acceptance network. If successful, this would allow a customer at a traditional bank to send, receive, and hold digital tokens with the same level of regulatory oversight and security they expect from a high-street branch. For Barclays, this isn’t just an investment; it’s an exploration into how the next generation of money will move across borders.
