Uber Uses HSBC Tokenized Deposits to Add 1.5 Days of Yield

Uber used HSBC tokenized deposits to buy a Franklin Templeton tokenized money market fund Thursday and sell it Sunday, gaining about 1.5 days of yield over a typical Friday sale. HSBC conducted the pilot with Franklin Templeton, Tradeweb and Fireblocks. Canton Network provided liquidity and settlement for the transactions. Manish Kohli, HSBC’s global head of payments, said the pilot demonstrated the technology’s feasibility. Kohli said the capability is available to other U.S. customers, and HSBC plans to add investment options beyond Franklin Templeton. HSBC previously tested tokenized deposits in an AI-agent payment trial with Ant Digital Technologies .