Barclays Backs Crypto Company Ubyx Amid Growing Race to Clear Stablecoin

Barclays has made its first direct move into the stablecoin sector, taking an equity stake in Ubyx, as global banks quietly position themselves for a future where digital payments are more common.

Although the investment is modest in the disclosed details, it shows how traditional lenders are approaching stablecoins not as a speculative asset, but as an infrastructure that can reshape payments and treasury operations if the law permits.

Ubyx, founded in 2025, uses a layer to remove and fix stablecoins, digital tokens that are usually individually stamped in fiat currencies like the US dollar. Its goal is to reduce market fragmentation by allowing stablecoins from different issuers and blockchains to be settled and used in a standardized manner.

ETH's price moving sideways on the daily chart. Source: ETHUSD on Tradingview

The Case for Regulated Token Currency

Barclays said the investment is in line with its wider work on “new forms of digital currency,” stressing that any development would remain within existing regulatory boundaries.

The bank did not disclose the size of its stake or the value of Ubyx. However, this decision places Barclays among a growing list of large financial institutions seeking exposure to the stablecoin channel without directly issuing tokens or operating outside of compliance frameworks.

Bank interest is not new. In October, Barclays joined a group of global lenders, including Goldman Sachs and UBS, to explore the issuance of a stablecoin jointly backed by G7 currencies.

It has also participated in pilots that include tokens and other distributed ledger systems, demonstrating a careful but consistent approach to blockchain-based transactions.

Ubyx’s Role in the Congested Infrastructure Layer

Ubyx positions itself as an intermediary between stablecoin issuers and regulated banks or fintech firms. Its platform supports what it calls universal redemption, which allows businesses to deposit stablecoins from multiple issuers directly into existing accounts for a virtual value.

The startup raised $10 million in seed funding by mid-2025, with support from Galaxy Ventures, Coinbase Ventures, Founders Fund, and Paxos. The Barclays filing adds a major UK bank name to that list, which includes traditional financial interests and crypto-native capital.

Support for Competitive Market Regulation

Stablecoins already play an important role in the use of money in the crypto market, led by Tether, with approximately $ 187 billion in circulation.

However, most uses remain within commercial areas. Regulators, including the Bank of England, continue to weigh limits and safeguards to avoid risks such as deposit flight in times of stress.

That tension defines the current stablecoin race. Banks want quick, orderly payments. Regulators want clear control and accountability. Infrastructure providers such as Ubyx are betting that a common, compliant specification can bridge these two worlds, and Barclays’ backing suggests the big lenders are taking a closer look.

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