- Barclays invests in Ubyx Inc. to advance stablecoin infrastructure.
- Investment size and valuation remain undisclosed.
- CEO Tony McLaughlin highlights the global acceptance network.
Barclays has made a strategic investment in Ubyx Inc., a U.S.-based stablecoin clearing platform, marking the bank’s first foray into tokenized deposits and stablecoins infrastructure..
The investment underscores growing interest in regulated digital currency systems, influencing financial infrastructure by promoting interoperability across digital assets and traditional financial institutions.
Barclays Targets Digital Currency with Ubyx Investment
Market reactions to this development have been positive, with key figures acknowledging the importance of regulated digital money. Tony McLaughlin, Ubyx’s CEO, emphasized the establishment of a global acceptance network for regulated digital currencies, highlighting the role of bank participation in this evolution.
Ubyx’s Growth and Barclays’ Strategic Moves
Did you know? In June 2022, Ubyx completed a $10 million seed funding round led by Galaxy Ventures, showcasing sustained investor interest in stablecoin infrastructure development.
Founded to improve tokenized money ubiquity, Ubyx connects multiple issuers with institutions for seamless settlement and par value redemption. Such a clearing platform bolsters both market confidence and digital currency usability amid rising interest.
The strategic investment by Barclays is indicative of a broader trend where traditional banks engage with digital assets, focusing on regulated stability and infrastructure. It underscores the growing convergence of traditional finance and blockchain technology.
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Source: https://coincu.com/news/barclays-investment-ubxy-stablecoin/
