Barclays Explores Blockchain Settlement Tools as Stablecoins Surge Toward Trillions
Barclays is actively evaluating blockchain-based settlement infrastructure and tokenized deposit systems as stablecoins approach $300 billion in circulation and forecasts project $2–4 trillion by the end of the decade, Bloomberg reported February 27, 2026.
The UK lender has held preliminary discussions with technology providers to build payment rails capable of supporting tokenized money and digital deposits, according to sources familiar with the matter. No public launch plans have been announced.
Stablecoin Forecasts Signal Massive Deposit Migration Risk
Analysts increasingly warn that rapid stablecoin adoption could shift hundreds of billions out of traditional bank deposits:
- U.S. Treasury Secretary Scott Bessent: Stablecoin market cap could exceed $2 trillion by 2028 and reach $3 trillion by 2030.
- Citi: Base-case issuance of $1.9 trillion by 2030; bull-case closer to $4 trillion.
- Standard Chartered: Roughly $2 trillion market size; up to $500 billion could migrate from U.S. bank deposits.
- Bloomberg Intelligence: Stablecoins could facilitate $50 trillion in annual payment volume by decade-end.
These projections are driving banks to rethink core payment infrastructure and explore how to keep deposits competitive in a tokenized economy.
Barclays’ Quiet Moves Toward Tokenized Money
Barclays has already taken concrete steps:
- January 2026: Acquired a stake in Ubyx, a U.S.-based stablecoin settlement startup focused on regulated money movement between fiat and stablecoins.
- The bank described the investment as part of its strategy to explore “new forms of digital money” and develop tokenized money “within the regulatory perimeter.”
Unlike some peers pursuing direct stablecoin issuance, Barclays appears focused on infrastructure and settlement layers rather than launching its own token.
Peer Comparison: JPMorgan Already Live on Public Rails
JPMorgan moved from exploration to production in November 2025:
- Launched JPM Coin tokenized deposits on Coinbase’s Base network (Ethereum L2).
- Enables 24/7 institutional settlement using public blockchain rails.
- Represents traditional bank balances on-chain for regulated clients.
The contrast highlights different strategic philosophies: JPMorgan pursues direct tokenized deposit issuance on public chains, while Barclays focuses on backend settlement infrastructure and third-party partnerships.
Market & Regulatory Context
Stablecoin growth is accelerating under clearer U.S. rules following the GENIUS Act (2025), while Europe’s MiCA framework has already licensed multiple issuers. Traditional banks now face the dual challenge of:
- Competing with stablecoins for deposit market share
- Modernizing payment rails to remain relevant in tokenized finance
Barclays’ exploration reflects a broader industry shift from viewing stablecoins as a threat to building infrastructure that can coexist with—or even leverage—them.
Reviews:
Leave Your Review Here:
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.
