Barclays Explores Blockchain Solutions for Payments and Deposits

Barclays, one of the largest U.K. banks and global financial conglomerates with operations in Europe, the U.S., and Asia, plans to develop a platform based on distributed ledger technology (DLT) capable of supporting payment operations, deposit products, and services related to digital assets, including stablecoins and tokenized assets.

Bloomberg sources say the move is largely driven by the growing adoption of stablecoins in the global financial system. As of March 2, 2026, the total market capitalization of stablecoins exceeds $311 billion.

Major banks and tech corporations view stablecoins as a tool for 24/7 payments and cross-border transfers with lower costs compared to traditional payment channels. For example, Fidelity plans to launch its own stablecoin, payment provider Payoneer is integrating services for stablecoin transactions, and Apex Group is exploring the use of stablecoins in tokenized fund operations. Meanwhile, the U.K. financial regulator is testing stablecoin use in its regulatory sandbox.