Banking giant Barclays explores blockchain platform for payments and tokenized deposits
Barclays, the British multinational banking big, is exploring constructing a blockchain platform for funds and deposits, Bloomberg reported Friday, citing folks with data of the exploration.
The financial institution is evaluating expertise suppliers and goals to pick companions as early as April. The initiative may embody each stablecoin integration and tokenized deposit capabilities.
Barclays has shifted from a cautious method to lively infrastructure funding to maintain tempo with trade friends like JPMorgan and HSBC, which have deployed distributed ledger expertise in monetary companies.
In October 2025, the London-based lender joined a bank-led consortium to discover a reserve-backed digital foreign money on public blockchains. The initiative focuses on G7-pegged belongings to enhance the pace and price of cross-border settlements.
Final month, Barclays introduced a strategic funding in Ubyx, a US firm offering a worldwide clearing system for tokenized deposits and controlled stablecoins.
The collaboration will deal with interoperability, enabling banks and different regulated establishments to supply digital wallets alongside conventional accounts.
“Interoperability is crucial to unlock the complete potential of digital belongings. Because the panorama of tokens, blockchains and wallets evolves, specialist expertise will play a pivotal function in delivering connectivity and infrastructure to allow regulated monetary establishments to work together seamlessly,” mentioned Ryan Hayward, Head of Digital Belongings and Strategic Investments at Barclays, in a January assertion.
Barclays’ blockchain initiative displays a development amongst world banks to undertake blockchain. Though nonetheless in early levels, the tempo of exploration has quickened as stablecoin transaction volumes broaden.
Stablecoins similar to USDT and USDC are rising in world funds, with estimates suggesting they may course of over $50 trillion yearly by 2030.
Regulatory developments have accelerated institutional curiosity. The US GENIUS Act, just lately enacted laws establishing a framework for dollar-backed tokens, has prompted main monetary establishments to revisit their digital asset methods.
