Barclays made its first stablecoin investment with a stake in Ubyx

Crypto Reporter

Shalini Nagarajan

Crypto Reporter

Shalini Nagarajan

Since part of the group

January 2024

About the author

Shalini is a crypto reporter who provides in-depth reports on daily developments and regulatory changes in the cryptocurrency sector.

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Last Updated:

January 7, 2026

As the British lender wraps up its work on what it calls “new forms of digital currency,” Barclays has taken its first stake in a cryptocoin-related company by buying into US-based Ubyx.

In the year Launched in 2025, Ubix markets itself as a clearinghouse of stablecoins, whose tokens are linked together to form currencies.

The extension is straightforward, making it easy to stabilize and redeem stablecoins across issuers, so a token from one brand isn't seen as a different currency than another.

According to a Reuters report on Wednesday, Barclays said the bank and Ubix are committed to developing “regulated money under the control”.

Ubyx Stake is related to Barclays push to regulated funds

A bank spokesperson added: “This investment is in line with Barclays' approach, based on new forms of digital currency such as stablecoins.” Barclays did not disclose the size of the stake or Ubix's valuation.

The deal confirmed that markets are rewarding the idea that the token is moving from pilot projects to production, especially in payments.

For Barclays, Ubyx stock fits a broader industry pattern, with large banks seeking exposure to stable coin rails without stepping outside regulatory lines.

As stablecoins move into widespread use, regulators will impose restrictions

In October, Barclays joined a group of 10 banks offering a 1-for-1 reserve-backed digital currency pegged to G7 currencies, another sign lenders want a seat at the table if the stablecoin is in the pipeline for a formal settlement.

Stablecoins are already at the center of the crypto market's liquidity, although most of its use is still in commercial spaces rather than at storefronts.

With nearly $187B of tokens in circulation, Tether remains the largest issuer, a reminder of how quickly private spending dollars increased once crypto users found product-market fit.

Ubyx has also attracted crypto-native supporters. Reuters cited pitchbook data showing earlier investments from the venture arms of Coinbase and Galaxy Digital, giving the startup a mix of traditional financial interest and crypto capital.

Regulators, at the same time, continue to ask questions about the risks that banks cannot ignore. The Bank of England has floated a systemic stability coin to partially reduce the risk of a shift from bank deposits to private tokens in times of stress, even as it builds on broader rules set by the Financial Conduct Authority.

That tension is the current cycle point for a stable coin. Banks want quick settlement and programmable money, regulators want stability and clear lines of responsibility, and infrastructure players like Ubyx are trying to pretend they know the rails, which regulated institutions actually use.