Barclays bets on blockchain for faster banking
Barclays is planning a new blockchain platform for payments and deposits, aiming to pick its tech partners by April 2026.
The move is all about using fresh tech to make banking smoother and faster.
Blockchain basics
Blockchain lets banks use stablecoins (think digital dollars) and tokenized deposits—basically, digital versions of your money that work 24/7.
This could mean instant transfers and reduced friction, changing how we move money.
Banking giants are feeling the heat
With stablecoins expected to handle over $50 trillion a year by 2030, banks are feeling the pressure as companies like Meta jump in.
JPMorgan began rolling out a deposit token called JPM Coin to institutional clients late last year, and HSBC plans to expand its tokenized deposit service to corporate clients in the United States and United Arab Emirates in the first half of this year.
Instant payments and global transfers
Barclays recently invested in Ubyx, a company helping clear tokenized deposits globally at equal value.
If all goes well, you could soon send money or pay through apps instantly—with faster settlement.