Stablecoin settlement company Ubyx receives investment from Arab Bank's accelerator AB Xelerate

According to Chainwire, Arab Bank's fintech accelerator AB Xelerate, based in Amman, Jordan, announced an investment in the stablecoin settlement company Ubyx. The specific amount of the investment has not been disclosed. The new funds 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, it was reported that Ubyx had been acquired by banking giant Barclays, which plans to explore the development of "tokenized currency."