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Barclays has made a strategic investment in Ubyx, a US-based clearing system for digital money, including tokenised deposits and regulated stablecoins.
“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.”
said Ryan Hayward, Head of Digital Assets and Strategic Investments at Barclays.
Tony McLaughlin, CEO of Ubyx, said:
“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.”
The investment comes amid increasing interest in new forms of digital money based on tokens transacted on public blockchain infrastructures.
Regulatory clarity is progressing in several jurisdictions, and there is evidence of growing adoption beyond cryptocurrency use cases.
Read more on Fintech Schweiz Digital Finance News – FintechNewsCH
