Actively seeking blockchain technology partners to build infrastructure for payments, stablecoins, tokenized deposits, and deposit management, with a partner potentially chosen by April.
This move follows its January investment in Ubyx, a U.S.-based regulated stablecoin and tokenized deposit platform, marking Barclays’ first step into institutional stablecoins.
No specific partners or products have been confirmed yet. The scope includes creating payment rails, handling deposits, and enabling stablecoin operations. If developed, the platform could compete directly with JPMorgan, which operates JPM Coin and its tokenized deposit network.
Why It Matters?
Institutional stablecoins are becoming a competitive necessity.
Faster, 24/7 transactions could reduce reliance on traditional correspondent banking.
Banks face pressure to innovate before digital payment infrastructure becomes standard.
Barclays’ approach—whether issuing its own tokens or supporting third-party assets—will shape its position in a rapidly evolving financial ecosystem.
This initiative signals that European banks are moving from observation to active infrastructure development in blockchain-based payments.