Catenaa, Saturday, March 07, 2026- Barclays is exploring blockchain-based settlement systems as banks prepare for the growth of stablecoins, according to Bloomberg.
The UK lender has approached technology providers to examine infrastructure supporting payments and tokenized deposits, though no public launch has been announced.
The stablecoin market is approaching $300 billion in circulation, led by Tether’s USDT and Circle’s USDC, which make up about 87% of dollar-pegged tokens. Analysts and policymakers expect that market to expand sharply over the next decade.
US Treasury Secretary Scott Bessent has projected stablecoins could surpass $2 trillion by 2028 and potentially reach $3 trillion by 2030. Citi estimates base-case issuance near $1.9 trillion, with a bullish scenario of $4 trillion, while Standard Chartered warns $500 billion could shift from US bank deposits if adoption grows.
Bloomberg Intelligence forecasts stablecoins may handle roughly $50 trillion in annual payment volume by decade’s end.
Barclays has begun steps toward tokenized money infrastructure, including its January investment in US stablecoin settlement startup Ubyx. The acquisition aligns with the bank’s aim to explore new digital money forms within regulatory frameworks.
Other financial institutions have moved ahead: JPMorgan launched its USD-denominated deposit token, JPM Coin, on Coinbase’s Base network, allowing regulated, institutional clients to settle transactions 24/7 on public blockchain rails.
JPM Coin represents traditional bank balances onchain and is designed for institutional compliance and efficiency.
Barclays’ efforts reflect broader financial sector interest in integrating blockchain for payments and deposits, signaling a potential shift toward digital rails for traditional banking.
