Barclays makes first stablecoin move with stake in US startup

Barclays has acquired a stake in Ubyx, a US-based stablecoin settlement company, marking its first investment in the sector.

Ubyx, launched in 2025, provides a clearing system for stablecoins—cryptocurrencies linked to traditional currencies.

Barclays said the move is part of its strategy to explore digital money options.

The bank did not disclose the size or terms of the investment.

Barclays previously joined a group of banks, including Goldman Sachs and UBS, to study the potential of issuing a stablecoin tied to G7 currencies.

🔗 Source: Reuters

🧠 Food for thought

Implications, context, and why it matters.

Barclays backs Ubyx amid questions on rules and traction

FinCEN listed 39,713 registered Money Services Businesses (MSBs) in the U.S. as of January 27, 2012 1. Most MSBs, including money transmitters, must register with FinCEN 2. Ubyx says it is not a regulated financial institution 3. Without a result in FinCEN’s MSB Registrant Search, its U.S. money transmission status stays unclear 4.
Barclays owns a stake in Ubyx, yet Ubyx has not shared transaction volumes or named business customers. That gap makes it hard to judge near-term rollouts versus a wait-and-see bet. Visa reported a $3.5 billion annualized stablecoin settlement run rate as of November 30, 2025, with initial U.S. banks Cross River Bank and Lead Bank that often partner with fintech firms 5. Wide business use is early.

Bank pilots of stablecoin settlement build demand for compliance, integration, and liquidity vendors

Banks moving to stablecoin settlement, like Cross River and Lead Bank in Visa’s pilot, need transaction monitoring 5. They need Anti-Money Laundering (AML) and Know Your Customer (KYC) controls tuned for blockchain flows. As the GENIUS Act sets baseline reserve backing and disclosure rules, automated compliance reporting will see more demand from banks 6.
Enterprise software and fintech infrastructure firms can plug stablecoin settlement into treasury tools, Enterprise Resource Planning (ERP) systems, or payment platforms. Visa’s pilot offers seven-day settlement and faster clearing 7. This creates room for connectors, custody tools, and liquidity management that link bank systems with Solana 7. Solana is a high-throughput blockchain where USD Coin (USDC), a dollar-denominated stablecoin, settles 7.