- Barclays invested in Ubyx, a U.S.-based platform for tokenized deposits and regulated stablecoins.
- Ubyx operates a global clearing system to enable settlement and par-value redemption of regulated digital money.
- The investment aims to improve interoperability across tokens, blockchains, and wallets for regulated institutions.
- Other banks, including UBS, PostFinance, and Sygnum Bank, have run proof-of-concept transactions on Ethereum, and Swift is building blockchain settlement infrastructure.
- Barclays PLC shares closed at $26.25, down 0.26% on Tuesday.
On Wednesday, Barclays said it invested in Ubyx, a U.S.-based digital money clearing platform focused on tokenized bank deposits and regulated stablecoins, to advance digital money connectivity, according to a press release. The move targets infrastructure that lets regulated financial institutions interact across tokens, blockchains, and wallets.
Ubyx operates a global clearing system designed to enable settlement and par-value redemption of regulated digital money through compliant channels. Ryan Hayward, head of digital assets and strategic investments at Barclays, said, “Interoperability is essential to unlock the full potential of digital assets.”
Tony McLaughlin, CEO of Ubyx, said the company’s mission is to build a global network of acceptance for regulated digital money, including tokenized deposits and stablecoins. He emphasized that bank participation is critical to ensure digital money can be redeemed at par value and integrated alongside traditional bank accounts as institutions offer digital wallets.
The investment aligns with broader bank-led efforts to adopt on-chain settlement infrastructure. UBS, PostFinance, and Sygnum Bank have previously conducted proof-of-concept transactions on Ethereum, and the interbank messaging network Swift is developing infrastructure to support blockchain-based settlement.
Barclays PLC closed at $26.25, down 0.26% on Tuesday.
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