Barclays Seeks Blockchain Provider, Invests in Ubyx
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- Barclays has requested information from technology suppliers as part of a potential blockchain initiative, Bloomberg reports.
- Barclays may use blockchain for tokenized deposits and stablecoins.
- Barclays invested in stablecoin settlement startup Ubyx, after being identified among banks considering a joint stablecoin issuance last fall.
- Ryan Hayward, Barclays Head of Digital Assets, said specialist technology will be pivotal for delivering connectivity and infrastructure for regulated institutions.
- Barclays aims to select a blockchain provider by April, according to Bloomberg.
- Barclays shares fell nearly 4% on Friday, even though they have risen about 54% over the past year.
- JPMorgan launched its tokenized deposit token (JPMD) on Base and later expanded it to the Canton Network.
Why it matters: Barclays’ move could position it alongside JPMorgan, US Bank, Citi and Bank of America in the emerging tokenized‑deposit market, while the modest share dip reflects short‑term market jitters despite a strong year‑to‑date performance, and a provider decision by April may set a tempo for its crypto‑services rollout.
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