Barclays Makes Strategic Investment in U.S. Stablecoin Firm Ubyx
- Barclays has acquired a stake in Ubyx, a U.S.-based stablecoin settlement company.
- This marks Barclays’ first investment in the stablecoin sector as part of its digital money strategy.
- The total stablecoin market cap has surpassed $312 billion, with Tether’s USDT accounting for approximately $187 billion.
- Barclays is among ten banks exploring the joint issuance of a stablecoin linked to G7 currencies.
- Ryan Hayward, Head of Digital Assets at Barclays, emphasized the need for specialist technology to enhance connectivity in regulated financial systems.
This investment aligns with growing interest in tokenization and regulated stablecoins as clearer regulations emerge globally. The involvement of banks is crucial for ensuring that customers can redeem digital assets through regulated channels.
With the stablecoin market cap exceeding $312 billion, Barclays’ stake in Ubyx highlights its commitment to advancing digital money infrastructure within regulatory frameworks. (Source)
