Barclays Eyes Tokenized Deposits and Stablecoin Payments, Requests Tech Proposals

Published: 2026-02-27 22:05:23 |

Barclays is evaluating blockchain infrastructure to support tokenized deposits and stablecoin payments, Bloomberg reports. The UK bank has issued requests for information to technology vendors and could select a provider as soon as April. Barclays has previously invested in stablecoin settlement firm Ubyx and was linked to groups exploring jointly issued stablecoins. Ryan Hayward, Barclays Head of Digital Assets, said specialist technology is required for regulated institutions to interact with blockchain systems. If implemented, tokenized deposits or stablecoin-enabled payments would align Barclays with peers such as JPMorgan (which launched JPMD) and other banks that have run pilots (US Bank, Citi, Bank of America). The report coincided with a modest dip in Barclays shares; the stock is up about 54% year-over-year. For traders: the move signals growing institutional interest in on-chain payment rails and tokenized deposits, which could shift liquidity dynamics away from traditional accounts and increase demand for stablecoin settlement infrastructure.

Bullish

Institutional adoption signals typically have a bullish effect on related crypto infrastructure and stablecoin demand. Barclays evaluating tokenized deposits and stablecoin-enabled payments increases the likelihood of greater on-chain settlement volumes and institutional use of stablecoins for payments and liquidity management. In the short term, the announcement can boost market sentiment for stablecoin projects and settlement platforms (positive flow into stablecoin liquidity and rails). In the medium to long term, if Barclays selects and deploys blockchain infrastructure, this could raise transactional demand for stablecoins, encourage other banks to accelerate pilots, and support growth in tokenization products — all supportive for stablecoin utility and related infrastructure tokens. The impact on broader crypto risk assets (BTC, ETH) is more indirect and neutral-to-positive via improved on-ramps and settlement efficiency, but the primary direct beneficiary set is stablecoins and payments-layer projects.