Barclays is in talks with blockchain technology partners, amid a global stablecoin market that has surpassed $311 billion in market Capital .
Barclays, a major UK banking group with operations spanning Europe, the US, and Asia, is exploring the application of Distributed Ledger Technology to build a platform for processing payments, deposits, and related services for crypto assets, including stablecoins and other tokenized assets. This move reflects the strong trend of modernizing legacy banking infrastructure currently underway in the global financial industry.
According to Bloomberg , the bank is in talks with potential technology partners and has sent requests for information (RFIs) to several companies developing blockchain solutions. A final decision on a supplier is expected in April. Prior to this, Barclays had already explored the cryptocurrency market by investing in Ubyx, a US-based stablecoin clearing platform.
Pressure from the global stablecoin wave
Competitive pressure is becoming increasingly evident. As of March 2, 2026, the total market Capital of stablecoins exceeded $311 billion, according to data from CoinGecko, making it an unmissable segment for major financial institutions. Stablecoins are increasingly XEM as a tool for 24-hour continuous payments and cross-border money transfers at significantly lower costs than traditional channels.
Barclays is not alone in this race. Fidelity plans to issue its own stablecoin, Payoneer is integrating stablecoin trading services, and Apex Group is researching the application of crypto assets in the operation of encrypted funds. On the regulatory side, the UK financial authority is also testing stablecoins in a controlled sandbox, creating a clearer legal framework for banks wishing to enter this field.
Given Barclays' scale and influence, the decision to deploy DLT infrastructure will not only shape the bank's own digitalization strategy but could also set a precedent for other traditional financial institutions in the UK and Europe to integrate blockchain technology into their core operations.
