Barclays is reportedly exploring the development of a blockchain-based platform to support payments, tokenised deposits and potentially stablecoins as major banks modernise settlement infrastructure.
The London-based lender has issued requests for information to technology providers and could select a shortlist of vendors as early as April 2026, according to people familiar with the matter cited by Bloomberg.
The initiative would position Barclays alongside global peers investing in distributed ledger technology to accelerate payments and settlement, particularly as regulatory clarity improves in the United States and Europe.
In January 2026, Barclays invested in Ubyx, a US-based clearing platform focused on tokenised deposits and regulated stablecoins, signalling deeper engagement with digital money infrastructure.
Ryan Hayward, Barclays’ head of digital assets and strategic investments, said specialist infrastructure will be critical to improving interoperability across blockchains and wallets, and following the announcement the Barclays share price was unchanged at $N/A.
Stablecoins, which are pegged to fiat currencies such as the US dollar, now represent roughly $309 billion in market capitalisation and are projected by industry estimates to grow to between $1 trillion and $4 trillion by 2030, supported by frameworks such as the GENIUS Act in the US and the Markets in Crypto-Assets regulation in Europe.
While some research suggests stablecoin adoption could divert deposits from traditional banks and affect lending capacity, other studies indicate digital tokens may complement existing systems, with transaction volumes in certain business-to-business segments already rivaling major card networks.