Barclays PLC (LSE:BARC) has made its first equity investment linked to stablecoins, backing US start-up Ubyx as the bank increases its focus on what it calls new forms of digital money.
Founded in 2025, Ubyx positions itself as a clearing layer for stablecoins, digital tokens designed to track traditional currencies one for one.
Its aim is to make different stablecoins easier to settle and redeem, so tokens from rival issuers behave more like interchangeable cash rather than competing payment instruments.
Barclays said the investment reflects a desire to develop tokenised money within existing regulatory boundaries. The bank did not disclose how much it invested or how Ubyx is valued.
The move comes as tokenisation gains traction beyond small-scale trials, particularly in payments, where faster settlement is seen as a clear advantage.
For large banks, investing in infrastructure offers exposure to stablecoin growth without issuing tokens themselves.
Ubyx has also attracted backing from the venture arms of Coinbase and Galaxy Digital.