Barclays Enters Stablecoin Market With First-Of-Its-Kind Investment In This US Startup (UPDATED)

Editor’s Note: This story has been updated with a response from Barclays.

British banking behemoth Barclays PLC (NYSE:BCS) has ventured into the stablecoin settlement space with its first-of-a-kind investment in Ubyx.

Barclays’ Entry Into Stablecoin Industry?

Barclays bought a stake in Ubyx as part of its plans to explore “new forms of digital money.”

“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,” Ryan Hayward, Head of Digital Assets and Strategic Investments at Barclays, told Benzinga.

The banking giant said it will collaborate with Ubyx to develop “tokenised money within the regulatory perimeter.”

The exact details of the investment and the valuation were not disclosed.

Ubyx, founded in 2025, is a clearing system that lets anyone deposit stablecoins, from various issuers and currencies, into regular bank or fintech accounts and redeem them. The company’s corporate office is in New York, according to private market financial platform Pitchbook.

Barclays’ Bet On Crypto

This is not Barclays’ first foray into the world of digital currencies. Back in 2015, it became the first major UK bank to accept Bitcoin (CRYPTO: BTC).

The bank has praised blockchain, the ledger-like technology that powers Bitcoin, as an innovative system that may significantly benefit traditional banking.

Price Action: Barclays shares rose 0.95% in after-hours trading after closing 0.27% lower at $26.25 during Tuesday's regular trading session, according to data from Benzinga Pro. The stock has nearly doubled in value over the past year.

BCS exhibited a very high Momentum score — a measure of the stock’s relative strength based on its price movement patterns and volatility over multiple timeframes. How does it compare with other banking stocks? Visit Benzinga Edge Stock Rankings to find out.

Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.

Photo courtesy: Shutterstock