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Uber tests tokenized cash access with HSBC and Franklin Templeton

Uber tested buying tokenized money market fund shares with HSBC deposits on Canton, including weekend redemptions, in a pilot for round-the-clock treasury access.

BitCurrent Newsroom2 min read

Uber tests tokenized cash access with HSBC and Franklin Templeton

Uber completed a pilot with HSBC, Franklin Templeton, Tradeweb and Fireblocks to invest corporate cash in tokenized money market funds while keeping access for payments outside market hours. The Canton Network announcement said the trial ran on its blockchain and included a weekend redemption.

  • Announced: October 30, 2026
  • Network: Canton
  • Settlement: delivery versus payment

How did Uber’s tokenized cash pilot work?

Uber used HSBC Tokenized Deposits to buy Franklin Templeton tokenized money market fund shares through Tradeweb. Fireblocks provided wallet technology, and the transactions settled on Canton.

The companies said Uber could liquidate part of its fund holdings over a weekend while the remaining investment continued to earn yield. In delivery-versus-payment settlement, the cash and fund shares move together in a synchronized transaction.

CoinDesk’s report also described the test as a way to address the gap between earning returns on company cash and having funds available for payments beyond banking hours.

What problem is the pilot meant to address?

Corporate treasurers can face cutoffs and settlement delays when moving money out of money market funds. The Canton announcement said traditional redemptions can take T+1 or longer, leaving companies to hold extra cash for operational needs.

Tokenized deposits represent commercial bank money, while tokenized fund shares represent an investment. The pilot linked the two on one network, allowing the investment and payment leg to settle together.

What remains unproven?

The announcement confirms a pilot, not a commercial rollout or a change to Uber’s treasury practices. It does not disclose the amount invested, the pilot’s duration or any measured yield improvement.

The trial demonstrates a workflow for accessing invested cash outside market hours. Whether it can operate at scale for routine corporate payments remains open.

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