Barclays invests in Ubyx for stablecoin clearing
Barclays has taken a stake in Ubyx, a U.S. firm building clearing and settlement plumbing for regulated stablecoins and tokenised bank deposits, as large lenders look for ways to move digital cash on blockchains under tighter rules.
What Barclays bought, and what Ubyx says it fixes
Barclays said Ubyx is “a U.S. based clearing system for digital money including tokenised deposits and regulated stablecoins”. The pitch is aimed at a known friction point in stablecoins: moving between multiple issuers, blockchains, and off-ramps, while keeping redemption and compliance standards consistent.
Ubyx says it was built to “connect multiple issuers with multiple receiving institutions in a common settlement environment that allows redemption of digital money at par value”.
Barclays framed the deal as a bet on connectivity, not a new token from the bank. Ryan Hayward, head of digital assets and strategic investments at Barclays, said, “Interoperability is essential to unlock the full potential of digital assets.”
Ubyx casts banks as the par-value “exit”
Ubyx CEO Tony McLaughlin said the company is trying to create “a common globalised acceptance network for regulated digital money including tokenised deposits and regulated stablecoins.” He added that “Bank participation is vital to provide par value redemption through regulated channels.”
Ubyx also links its design to a policy goal often cited by central banks: keeping different forms of private money interchangeable at face value. The company says it was founded to support “the singleness of money.”
Regulation is narrowing the lane for “digital cash”
The Barclays-Ubyx release said “Regulatory clarity is moving forward in several jurisdictions” and tied its work to “tokenised money within the regulatory perimeter.”
In the UK, the Bank of England is consulting on its approach to “innovations in money,” and “The consultation closes on 10 February 2026.” HM Treasury has also published a policy note and draft statutory instrument for stablecoins to bring fiat-backed stablecoins used in payments into the regulatory framework.
