Barclays makes first stablecoin move with stake in Ubyx
Barclays has taken a stake in Ubyx, a United States-based stablecoin clearing platform, marking the UK lender’s first investment tied to stablecoins. The bank announced the deal on Wednesday without disclosing the investment size.
Ubyx’s platform is designed to link regulated stablecoin issuers with banks and fintech firms. Ryan Hayward, head of digital assets and strategic investments at Barclays, said the evolving ecosystem of tokens, blockchains, and wallets will require specialized technology to provide the connectivity and infrastructure that regulated financial institutions need to interact efficiently.
The move follows Ubyx’s $10 million seed round in June 2025, which included backing from the venture arms of Galaxy, founded by Michael Novogratz, and U.S. crypto exchange Coinbase.
Ripple and Paxos among principal partners
Founded in March 2025 by payments veteran Tony McLaughlin, who spent more than two decades at Citi overseeing payments and cash management, Ubyx is focused on tokenized financial services.
On LinkedIn, McLaughlin describes himself as a “tokenized money maximalist” and has emphasized the company’s goal of creating a unified, global acceptance network for regulated digital money, including tokenized deposits and regulated stablecoins.
He has also said the industry is moving toward a model where every regulated firm provides digital wallets alongside traditional bank accounts.
When it announced its 2025 seed round, Ubyx said its platform was built to support broad adoption of stablecoins, including those issued by Ripple, Paxos, AllUnity, and Eurodollar.
Barclays’ first investment linked to stablecoins
Barclays’ stake in Ubyx is the first time the bank has invested in a stablecoin-related company, Reuters reported. The bank said the transaction aligns with its strategy to explore opportunities involving new forms of digital money, such as stablecoins, without providing financial details.
The deal signals a shift from Barclays’ previously cautious stance on crypto. In June 2025, the bank said it would begin blocking crypto purchases on Barclaycard credit cards, citing cryptocurrency volatility.
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