Arab Bank's Fintech Accelerator Invests in Stablecoin Settlement Firm Ubyx

Arab Bank's fintech accelerator, AB Xelerate, has announced an investment in stablecoin settlement company Ubyx, according to PANews. The specific amount of the investment has not been disclosed. The new funding will support the development of a shared network that enables regulated financial institutions to issue, accept, and exchange digital currencies at face value across multiple blockchains and jurisdictions, while operating within established regulatory and compliance frameworks. Previously, Ubyx was acquired by banking giant Barclays, which plans to explore the development of 'tokenized currency.'