Barclays Eyes Blockchain Payments Platform by April, Warns Brent May Hit $80
Barclays has issued requests for information from technology suppliers to evaluate a blockchain-based payments platform, with partner selections possible by April following its recent stake in stablecoin settlement firm Ubyx. The bank also warned Brent crude prices could surge to $80 per barrel if US-Iran tensions significantly disrupt supply.
1. Blockchain Payments Evaluation
In late February 2026, Barclays issued requests for information to multiple technology providers as it evaluates the design and deployment of a blockchain-powered payments platform. The bank plans to select a technology partner by April, aiming to modernize its settlement infrastructure for 24/7 global markets.
2. Ubyx Investment and Stablecoin Strategy
In January 2026, Barclays acquired a stake in stablecoin-settlement firm Ubyx, marking its first direct investment in a stablecoin-related business. This follows earlier experiments with the R3 consortium in 2016 and a brief period of banking crypto firms in 2018 before withdrawing services in 2019 due to risk considerations.
3. Brent Crude Forecast and Market Impact
Barclays’ commodities research team projected that Brent crude could climb to $80 per barrel if escalating US-Iran tensions materially disrupt supply. This forecast underscores potential volatility in energy markets and may influence Barclays’ trading and risk management strategies.