Barclays Invests in Stablecoin Settlement Startup Ubyx
- Barclays, one of the UK’s largest banks, has invested in U.S.-based startup Ubyx.
- Ubyx aims to create infrastructure for stablecoins to achieve “cash equivalent” status.
- Founded by former Citi executive Tony McLaughlin, Ubyx focuses on stablecoin clearing systems.
- The UK is developing its own stablecoin regulations following the US GENIUS Act.
Barclays’ investment in Ubyx reflects a strategic move towards integrating digital money within regulated frameworks, as the UK progresses with its stablecoin regulatory plans. This development underscores the growing importance of creating robust settlement infrastructure for stablecoins to facilitate their mainstream adoption.
This investment highlights Barclays’ commitment to leveraging specialist technology to enhance interoperability and connectivity in the evolving digital asset landscape. (Source)
