Banking Giant Barclays Eyes Crypto Payments Push: Bloomberg

What to Know

Barclays is gathering information from technology suppliers for a potential blockchain push, according to Bloomberg
Tokenized deposits and stablecoins are among the options being evaluated by the U.K. banking giant
The firm could choose a technology provider by April 2026, Bloomberg sources said
Barclays shares fell roughly 4% on Friday despite climbing 54% over the past year

Barclays crypto payments exploration is gaining momentum as the banking giant reportedly seeks information from technology suppliers for a potential blockchain push, according to a Friday report from Bloomberg. The U.K.-based institution is evaluating options including tokenized deposits and stablecoins.

Barclays Crypto Payments Infrastructure

Growing Digital Asset Interest

Barclays has been warming to digital assets in recent months. The bank invested in Ubyx, a stablecoin settlement startup, and was named among leading international banks exploring joint stablecoin issuance last fall.

Ryan Hayward, Barclays' Head of Digital Assets, stressed the role of specialist technology when the Ubyx investment was revealed. The firm is now evaluating providers and could select one by April, according to Bloomberg.

Specialist technology will play a pivotal role in delivering connectivity and infrastructure to enable regulated financial institutions to interact seamlessly.
— Ryan Hayward, Head of Digital Assets at Barclays

Which Major Banks Are Already in Crypto?

Several major banks have already moved into blockchain payments. JPMorgan launched its tokenized deposit token — JPMD — on Base, the Coinbase-incubated Ethereum scaling network, letting institutional clients make payments via a digital representation of their deposits. The bank later expanded JPMD to the Canton Network.

That followed reports JPMorgan was building a framework to let clients use Bitcoin and Ethereum as loan collateral. US Bank also began testing its own stablecoin on the Stellar Network, while Citi and Bank of America have signaled interest in similar efforts.

What This Means Going Forward

Barclays' potential entry into crypto payments would validate the institutional shift toward blockchain across global banking. Yet the news failed to excite shareholders on Friday, with Barclays shares falling roughly 4% amid a broader market decline.

Despite that dip, Barclays stock has risen approximately 54% over the past year. Selecting a blockchain technology provider by April could mark a meaningful step toward mainstream adoption of tokenized deposits and stablecoin payments in traditional banking.