Barclays Bets Big: Banking Giant Backs Ubyx to Disrupt Stablecoin Settlement

Forget waiting days—settlement just went real-time. Barclays is throwing its institutional weight behind Ubyx, a new player aiming to carve a major slice out of the booming stablecoin settlement market. This isn't just a pilot; it's a strategic power move into the plumbing of modern finance.

The Institutional Stamp of Approval

When a bank of Barclays' caliber places a bet, the market pays attention. Their backing signals a critical shift: stablecoin infrastructure is no longer a crypto-native curiosity but a serious utility for mainstream finance. Ubyx plans to leverage this partnership to build rails that promise to be faster, cheaper, and available around the clock—a direct challenge to legacy systems that still operate on bankers' hours.

Cutting Out the Middleman (and the Wait)

The target is clear: the trillion-dollar world of cross-border payments and securities settlement. By using stablecoins as the settlement asset, Ubyx aims to bypass correspondent banking tangles and multi-day delays. The value moves as fast as the data, slashing counterparty risk and freeing up capital. It's a proposition that turns settlement from a cost center into a competitive edge.

A Cynical Nod to Tradition

Of course, this threatens a very comfortable, very lucrative status quo—one where delays are often just another line item on the fee schedule. The old guard may scoff, but they're also watching their moats evaporate in real-time.

The final take? Barclays isn't just exploring blockchain; it's strategically positioning for a future where settlement isn't something you wait for, but something that simply happens. The race to own finance's new backbone is officially on, and the giants are now building the tracks.

Barclays makes first stablecoin infrastructure investment

Barclays announced its stake purchase in Ubyx on Wednesday, calling it the bank’s first investment in a stablecoin-related company. The bank and Ubyx are committed to developing tokenized money within the regulatory perimeter.

The bank declined to make public the size of its investment or the valuation placed on Ubyx. The venture capital arms of U.S. crypto companies Coinbase and Galaxy Digital previously invested in Ubyx, according to PitchBook. The company raised $10 million in seed funding in 2025 from a mixed investor base, including Galaxy Ventures, Coinbase Ventures, Founders Fund, Paxos, and VanEck.

Various banks and financial institutions have announced plans involving stablecoins in the past year. Banks are exploring issuing stablecoins or creating blockchain-based tokens to represent financial assets. Many banks’ blockchain-related projects remain in early stages.

Ubyx provides a clearing layer for multiple stablecoin issuers

Ubyx operates as a clearing and settlement LAYER for stablecoins. The company reconciles tokens from different issuers, including Tether, Circle, and PayPal. The system allows any bank or fintech to redeem any stablecoin at par value into traditional financial accounts.

Today’s stablecoins are siloed, with each issuer maintaining proprietary distribution channels. Ubyx creates what it calls singleness of money across multiple issuers and blockchains.

Ubyx’s business model centers on connecting stablecoin issuers with receiving institutions through standardized APIs and shared settlement infrastructure. Rather than competing as a stablecoin issuer alone, Barclays is betting on the new layer of interoperability providers.

Barclays pursues G7 currency stablecoin consortium

In October 2025, Barclays joined nine other major banks in a consortium to explore issuing a stablecoin collectively pegged to G7 currencies on public blockchains. Other members of the consortium include Goldman Sachs, Deutsche Bank, UBS, Bank of America, Citi, Santander, BNP Paribas, MUFG, and TD Bank. The group was formed to explore the possibility of jointly issuing a multi-currency token.

While USDT and USDC dominate dollar-based stablecoins, there is no institution-grade, compliant stablecoin for multi-currency G7 settlement. On-chain foreign exchange settlement through a G7-backed token could improve cross-border payment efficiency.

Barclays was involved in the UK Regulated Liability Network pilot for tokenized deposits using a shared ledger. The bank played a leading role in the G7 consortium aimed at meeting the regulatory requirements across borders. In June 2025, Barclays opted to block crypto credit card purchases, moving away from speculative retail crypto markets.

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