Quick take:
The investment is part of the company’s strategy to capitalize on the growing interest in cryptocurrencies.
Barclays also highlighted progress in regulatory processes in several jurisdictions, adoption, and emerging use cases as part of the reason for investing.
Barclays and Ubyx said they remain committed to the responsible development of tokenized money within the regulatory perimeter.
Barclays, the UK’s second-largest bank by market capitalization, has announced a strategic investment in Ubyx, according to a press release seen by NFTgators. The U.S.-based crypto startup offers a clearing system for digital money, including tokenized deposits and regulated stablecoins.
Barclays cited the growing interest in cryptocurrencies as part of the reason for its strategic investment. The U.S. banking giant also highlighted progress in regulatory processes in several jurisdictions, adoption, and emerging use cases, adding that both companies will remain committed to the responsible development of tokenized money within the regulatory perimeter.
Stablecoins in particular are increasingly becoming a popular segment of the industry after President Trump signed into law the much-awaited GENIUS Act last July. The bill provides clarity for regulating cryptocurrencies tied to real-world assets.
Commenting on the announcement, Ryan Hayward, Head of Digital Assets and Strategic Investments at Barclays, said: “Interoperability is essential to unlock the full potential of digital assets. As the landscape of tokens, blockchains, and wallets evolves, specialist technology will play a pivotal role in delivering connectivity and infrastructure to enable regulated financial institutions to interact seamlessly.”
Tony McLaughlin, CEO of Ubyx, commented: “Our mission is to build a common globalised acceptance network for regulated digital money, including tokenised deposits and regulated stablecoins. Bank participation is vital to provide par value redemption through regulated channels. We are entering a world in which every regulated firm offers digital wallets in addition to traditional bank accounts.”
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The post Barclays Announces Strategic Investment in Stablecoin Settlement Company Ubyx appeared first on NFTgators.
