Barclays, one of the world’s largest banks and a systemically important global financial institution, has made its first investment in a stablecoin-related company.
The UK-based lender announced on Wednesday that it has taken a stake in Ubyx, a U.S.-based stablecoin clearing platform designed to connect regulated issuers with banks and fintech firms. Barclays did not disclose the size of the investment.
“As the landscape of tokens, blockchains, and wallets continues to evolve, specialist technology will play a pivotal role in enabling regulated financial institutions to interact seamlessly,” said Ryan Hayward, head of digital assets and strategic investments at Barclays.
The investment follows Ubyx’s $10 million seed funding round in June 2025, which included backing from the venture capital arms of Galaxy, founded by Michael Novogratz, and U.S. crypto exchange Coinbase.
Ripple, Paxos among partners
Ubyx was founded in March 2025 by payments industry veteran Tony McLaughlin, who spent more than two decades at Citi overseeing payments and cash management.
McLaughlin, who describes himself on LinkedIn as a “tokenized money maximalist,” has emphasized the growing importance of tokenized financial services. “Our mission is to build a common, global acceptance network for regulated digital money, including tokenized deposits and regulated stablecoins,” he said.
“We are entering a world in which every regulated firm will offer digital wallets alongside traditional bank accounts,” McLaughlin added.
When announcing its seed funding round in 2025, Ubyx said its platform was built to support broad stablecoin adoption, including tokens issued by major players such as Ripple, Paxos, AllUnity, and Eurodollar.
Barclays makes first stablecoin investment
Barclays’ stake in Ubyx marks the first time the bank has invested in a stablecoin-related company, according to a report from Reuters.
“This investment aligns with Barclays’ approach to exploring opportunities around new forms of digital money, including stablecoins,” the bank said, without disclosing the size of the investment.
The move also signals a shift in Barclays’ stance toward crypto after years of emphasizing risks and restricting certain crypto-related activity. As recently as June 2025, Barclays said it would block cryptocurrency purchases made with Barclaycard credit cards, citing the volatility of digital assets.
