Barclays Invests in Ubyx to Advance Digital Money Connectivity

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Source: CryptoDaily Original Title: Barclays Invests in Ubyx to Advance Digital Money Connectivity Original Link: Ubyx provides a global clearing system for tokenised deposits and stablecoins.

Barclays has announced a strategic investment in Ubyx Inc., a U.S. based clearing system for digital money including tokenised deposits and regulated stablecoins.

“Interoperability is essential to unlock the full potential of digital assets. As the landscape of tokens, blockchains and wallets evolves, specialist technology will play a pivotal role in delivering connectivity and infrastructure to enable regulated financial institutions to interact seamlessly. We are pleased to be joining Ubyx on their journey as we drive forward our shared ambition to accelerate and shape innovation across our industry,” said Ryan Hayward, Head of Digital Assets and Strategic Investments at Barclays.

Tony McLaughlin, CEO of Ubyx said, “Our mission is to build a common globalised acceptance network for regulated digital money including tokenised deposits and regulated stablecoins. Bank participation is vital to provide par value redemption through regulated channels. We are entering a world in which every regulated firm offers digital wallets in addition to traditional bank accounts.”

This investment comes at a time of growing interest in new forms of digital money based on tokens transacted on public blockchain infrastructures. Regulatory clarity is moving forward in several jurisdictions, and evidence of growing adoption outside of cryptocurrency use-cases is emerging. Barclays and Ubyx are committed to the responsible development of tokenised money within the regulatory perimeter.

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BtcDailyResearchervip
· 01-10 10:27
Hmm, big banks are also starting to play with tokenized deposits. Are they serious or just testing the waters again?
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MetaverseHomelessvip
· 01-09 23:18
Major banks are starting to play with tokenized deposits. Is traditional finance really going to embrace on-chain now?
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GasWastervip
· 01-08 13:30
lol barclays finally gets it? only took them forever. ubyx sounds nice on paper but lemme guess... bridge fees gonna be absolutely insane when they actually launch this thing. always is.
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fren.ethvip
· 01-08 10:50
Barclays is entering the game, indicating that this is serious... The tokenized deposits line can indeed be played out.
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All-InQueenvip
· 01-07 11:50
Hmm... Big banks are starting to play with tokenized deposits. Are they serious this time, or is it just another delay?
View OriginalReply0
AirdropDreamervip
· 01-07 11:48
Big banks are starting to get involved as well; interoperability is definitely something that needs to be prioritized.
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AlphaLeakervip
· 01-07 11:44
Damn, is Barclays really starting to get into digital assets? Now traditional finance has to follow suit.
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GasFeeTherapistvip
· 01-07 11:40
Traditional finance is here to harvest the little guys, under the noble guise of "enhanced interoperability"...
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BlockchainRetirementHomevip
· 01-07 11:32
Barclays Investment Ubyx? Traditional banks can no longer sit still. Now stablecoins and tokenized deposits are really coming!
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DaoGovernanceOfficervip
· 01-07 11:27
tbh, "enhancing interoperability" is just governance theater if there's no actual mechanism design behind it. where's the data on how ubyx's architecture actually solves the fragmentation problem? can't just throw capital at tokenization and call it innovation...
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