Report: Barclays Joins Global Banks Building Blockchain Payment Systems

Barclays is exploring the development of infrastructure to support blockchain-based payments, tokenized deposits, and potentially stablecoins. The London-headquartered bank has reportedly approached multiple technology providers for information as part of its evaluation process, with sources indicating that a shortlist of vendors may be finalized by April 2026.

This step places Barclays among a growing number of global financial institutions investing in digital asset capabilities, particularly as regulatory clarity improves across the United States and Europe. The initiative focuses on upgrading essential banking operations such as payments and settlement through distributed ledger technology.

Earlier in January 2026, Barclays invested in Ubyx, a U.S.-based platform specializing in tokenized deposits and compliant stablecoin clearing. Ubyx is working toward establishing a worldwide acceptance framework for digital currency while maintaining one-to-one redemption value. According to Ryan Hayward, the bank’s head of digital assets and strategic investments, purpose-built infrastructure will play a critical role in enabling seamless interoperability between blockchains and digital wallets.

Stablecoins — cryptocurrencies tied to fiat currencies like the U.S. dollar — are gaining traction due to their ability to facilitate faster settlements and reduce cross-border transaction costs. The market capitalization of stablecoins currently stands at approximately $309 billion, with forecasts suggesting it could grow to between $1 trillion and $4 trillion by 2030.

Regulatory momentum is further supporting adoption. In the United States, the GENIUS Act introduced a federal regulatory structure for stablecoin issuers in July 2025. Meanwhile, Europe’s Markets in Crypto-Assets Regulation provides a comprehensive framework for digital asset oversight. Other regions, including Hong Kong and the United Kingdom, are also advancing their regulatory policies.

The expansion of stablecoins may introduce an alternative channel for deposits beyond traditional banking systems, potentially influencing lending capacity. While some research suggests widespread adoption could reduce total bank deposits, other analyses indicate that stablecoins may function as a complementary payment solution rather than a direct replacement for existing systems.

Transaction data already show stablecoin usage approaching that of major card networks in specific sectors, especially in business-to-business payments and treasury management. For institutions like Barclays, incorporating blockchain-based infrastructure could help safeguard deposit flows while enabling faster and more efficient settlement processes.

Although Barclays has not officially announced a launch date, its ongoing discussions with technology partners indicate that major financial institutions are actively preparing for a financial landscape increasingly influenced by tokenized deposits and stablecoin innovation.

Voice Of Osiz

The strategic move by Barclays to explore blockchain payments and tokenized deposits signals a defining shift in global finance. As regulatory frameworks like the GENIUS Act and Markets in Crypto-Assets Regulation mature, institutional adoption is accelerating with renewed confidence. At Osiz, we see this as a clear validation that stablecoins and distributed ledger infrastructure are becoming core banking priorities rather than experimental initiatives. The growing investment in platforms like Ubyx reinforces the importance of interoperability and compliant digital asset ecosystems. Stablecoins are no longer niche instruments; they are shaping the future of settlement, treasury, and cross-border payments. Financial institutions that modernize now will lead the next era of digital money transformation. Osiz stands ready to empower enterprises in building secure, scalable, and regulation-aligned blockchain solutions for this evolving financial landscape.

Source: Bitcoin.com