British banking behemoth Barclays PLC (NYSE:BCS) has ventured into the stablecoin settlement space with its first-of-a-kind investment in Ubyx, according to a report published Wednesday.

Barclays’ Entry Into Stablecoin Industry?

Barclays bought a stake in Ubyx as part of its plans to explore “new forms of digital money,” Reuters reported.

The exact details of the investment and the valuation have not been disclosed, although Barclays confirmed that this was their first investment in a stablecoin-related company.

The banking giant said it will collaborate with Ubyx to develop “tokenised money within the regulatory perimeter.”

There has been no official announcement from Barclays as…

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