Barclays Invests in Ubyx to Enhance Digital Money Connectivity

Barclays has made a strategic investment in Ubyx Inc., a company providing a global clearing system for digital money, including tokenised deposits and stablecoins. This move underlines the bank's commitment to advancing digital money connectivity.

Ryan Hayward, Head of Digital Assets and Strategic Investments at Barclays, stated the importance of interoperability in realising the potential of digital assets. He highlighted the evolving landscape of tokens, blockchains, and wallets, and the crucial role of specialist technology in ensuring seamless connectivity and infrastructure.

Tony McLaughlin, CEO of Ubyx, emphasized the company's mission to create a global acceptance network for regulated digital money. He noted the significance of bank participation in providing par value redemption through regulated channels, especially as more regulated firms offer digital wallets alongside traditional bank accounts.