Barclays Bank announced on Wednesday that it has acquired a minority stake in Ubyx, a US-based stablecoin settlement company, marking the bank's first investment of this kind and a step in its exploration of "new forms of digital currency."

Launched in 2025, Ubyx is a clearing system designed specifically for stablecoins, aiming to integrate tokens created by different issuers.

Over the past year, numerous banks and other financial institutions have announced plans related to stablecoins. Surging cryptocurrency prices and support for the sector from US President Donald Trump have revived interest in using blockchain technology within mainstream finance, such as issuing stablecoins or creating blockchain-based tokens to represent financial assets. However, many bank-led blockchain projects remain in early stages.

Barclays stated in an announcement that it is collaborating with Ubyx to develop "tokenized money" within a regulatory framework. Barclays was one of ten banks that formed a group last October to explore the possibility of jointly issuing a stablecoin pegged to G7 currencies.

A spokesperson for the bank commented, "This investment aligns with Barclays' strategy to explore opportunities based on new forms of digital currency, such as stablecoins."

Barclays declined to disclose the size of its investment or the company's valuation but confirmed it is the bank's first investment in a stablecoin-related firm. According to PitchBook, the venture capital arms of US cryptocurrency companies Coinbase and Galaxy Digital have previously invested in Ubyx.