Summary
- Barclays said it has acquired a stake in Ubyx, a U.S. stablecoin infrastructure firm.
- It said this is the first time Barclays has directly invested in a stablecoin-related company.
- Barclays emphasized it will be committed to developing tokenized currency within the regulatory framework.
Barclays has made its first investment in a U.S. stablecoin infrastructure firm, accelerating its entry into the digital asset (cryptocurrency) market.
On the 6th (local time), according to Reuters and others, Barclays said in a statement that it had acquired a stake in Ubyx, a U.S. stablecoin clearing and settlement firm. It did not disclose the specific investment size or company valuation, but this is the first time Barclays has directly invested in a stablecoin-related company.
Ubyx, which launched last year, is a company that develops a clearing system that supports interoperability and intermediates transactions between stablecoins issued by different issuers. Earlier, venture arms of U.S. crypto exchange Coinbase and Galaxy Digital also invested in Ubyx.
Barclays said, "This investment is consistent with the bank's approach to exploring new forms of digital currency such as stablecoins," and emphasized, "It will be committed to developing tokenized currency within the regulatory framework."
In October, Barclays also formed a consortium with 10 global investment banks, including Goldman Sachs and UBS, to explore joint issuance of stablecoins linked to Group of Seven (G7) currencies.
