Barclays Explores Blockchain with Tokenized Deposits and Stablecoins
- Barclays is gathering information from technology providers for a potential blockchain initiative.
- The bank is considering implementing tokenized deposits and stablecoin payments.
- Earlier this year, Barclays invested in stablecoin settlement firm Ubyx.
- If pursued, Barclays would join other major banks like JPMorgan and US Bank in the crypto space.
- Barclays’ shares are down nearly 4% amid broader market declines but have increased about 54% over the past year.
Barclays is evaluating blockchain technologies for potential use in tokenized deposits and stablecoins, following its investment in Ubyx earlier this year. This move aligns with trends seen among other major banks entering the crypto sector.
Despite a recent dip, Barclays’ shares have shown significant growth over the past year, reflecting investor confidence amid its exploration of blockchain solutions. (Source)
