Barclays is exploring the development of a blockchain platform to manage processes such as payments, joining global peers like JPMorgan Chase in investigating digital-asset technology for banking services.
The UK-based lender has issued a request for information to potential technology suppliers as it considers how to expand its offerings, according to people familiar with the matter who requested anonymity due to the private nature of the discussions.
The initiative could encompass payments applications such as stablecoins and tokenised deposits, according to Bloomberg.
Stablecoins, typically pegged to assets like the US dollar, are gaining traction in payments and could threaten traditional banking revenue streams, as technology firms and fintechs increasingly enter the space.
Meta is reportedly testing ways to integrate stablecoin payments into its apps.
Banks are looking to protect their position and capitalise on the opportunity by building blockchain systems capable of processing payments and settlements around the clock.
JPMorgan has begun rolling out its deposit token, JPM Coin, for institutional clients, while HSBC plans to expand its tokenised deposit service to corporate clients in the US and UAE in the first half of this year.
Tokenised deposits are essentially on-chain representations of clients’ bank account balances.
Although banks and large corporates have experimented with blockchain-based services for over a decade, most systems remain in their infancy, and transaction volumes are far lower than those processed via traditional platforms.
Barclays aims to select technology providers as soon as April, signalling a renewed push into digital-asset banking infrastructure.
Featured image credit: Edited by Fintech News Switzerland, based on image by davidpinta9122 via Freepik
The post Barclays Explores Blockchain for Payments Amid Stablecoin Surge appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.
Full story here Are you the author?
You Might Also Like
Crypto.com and Stripe Partner to Enable Direct Crypto Payments
2026-01-07
Crypto.com and Stripe have announced product updates aimed at making it easier for businesses to accept cryptocurrency payments.
Through an integration with Stripe, businesses using Crypto.com Pay will be able to accept payments directly from customers’ crypto balances.
Crypto.com is the first cryptocurrency platform to be integrated with Stripe for direct balance-based crypto payments.
Customers will be able to check out using their preferred cryptocurrency, including stablecoins, while Stripe converts the payment into the merchant’s chosen local currency and deposits it into their bank account alongside other payments.
Joe Anzures
“Increasing everyday accessibility to and utility of cryptocurrencies for consumers and merchants is central to our vision at Crypto.com,”
said Joe Anzures,
Kraken Launches Krak Card with 1% Cashback in UK and EU
2025-11-26
Kraken, one of the world’s longest-standing crypto platforms, has announced the phased rollout of the Krak Card, offering 1% cash back on all purchases, along with new features including salary deposits and expanded wealth-building options.
The Krak Card will first be available to users in the UK and EU, with additional markets to follow.
Offered in physical and virtual formats, the card allows instant spending using multiple balances with no foreign exchange or monthly fees.
Cash back can be received in local currency or Bitcoin.
Powered by Mastercard, the card supports over 400 crypto and fiat assets within the Krak app, enabling real-time conversion at checkout.
Users can select which assets to spend first and exclude certain holdings.
Mark Greenberg
“To us, everything is money. You
Binance Introduces QR Code Crypto Payments in Argentina
2025-11-03
Binance has introduced a new QR code payment feature in Argentina, enabling users to pay for products and services using cryptocurrencies directly from the Binance app at merchants that accept QR payments.
Transactions are processed instantly, securely, and without fees.
Andrés Ondarra, Binance General Manager for Argentina and the Southern Cone, described the launch as “a leap toward true financial freedom,” adding that it provides “speed, security, and flexibility to use your digital assets at any merchant, without fees or complications.
It is the simplest and most practical way to integrate cryptocurrencies into everyday life.”
To make a payment, users scan a merchant’s QR code with the Binance app, select a cryptocurrency, and confirm the transaction.
Binance automatically converts the
Thredd Extends Partnership with Bybit for Global Crypto Card Expansion
2025-10-31
Thredd has announced an expanded partnership with Bybit, the world’s second-largest cryptocurrency exchange by trading volume.
The collaboration supports the regional expansion of the Bybit Card, a multi-currency, crypto-linked payment card designed to connect digital assets with everyday transactions across key markets.
Thredd’s processing platform enables Bybit to scale operations and address regulatory requirements across regions through a single integration.
The platform allows market-specific programme configurations that meet local compliance needs while maintaining central oversight.
This setup has allowed Bybit to expand across several markets, with further growth planned.
More than two million users currently use the Bybit Card for features such as cardholder rewards and
Luxembourg’s Sovereign Wealth Fund Allocates 1% to Bitcoin ETFs
2025-10-13
Luxembourg’s sovereign wealth fund has allocated 1% of its portfolio to Bitcoin exchange-traded funds (ETFs), becoming one of the first European state-backed investment entities to do so.
According to Cointelegraph, Luxembourg’s Director of the Treasury and Secretary General, Bob Kieffer, confirmed the investment in a LinkedIn post on 8 October.
He said Finance Minister Gilles Roth announced the decision during his presentation of the 2026 Budget at the Chambre des Députés, Luxembourg’s legislature.
Bob Kieffer
“Recognising the growing maturity of this new asset class, and underlining Luxembourg’s leadership in digital finance, this investment is an application of the FSIL’s new investment policy, which was approved by Government in July 2025,”
Kieffer wrote.
The Intergenerational
Tags: Barclays Bank,Blockchain,Featured,newsletter,payments
