Pilot joins bank deposits with a tokenised fund
HSBC, Franklin Templeton, Tradeweb, Fireblocks and Uber announced on 30 October that they completed a pilot for round-the-clock corporate liquidity on the Canton Network. Uber used HSBC Tokenized Deposits to purchase a Franklin Templeton tokenised money-market fund through Tradeweb using delivery-versus-payment. The workflow also demonstrated redemption outside conventional market hours, allowing part of the invested balance to become available for operational payments.
The design targets idle cash and settlement timing
The participants say the synchronized exchange of the tokenised deposit and fund position can reduce settlement risk while keeping cash invested until it is needed. Fireblocks provided wallet controls and signing permissions, while Canton limited transaction details to relevant participants. The model used closed-loop settlement: HSBC Tokenized Deposits represented commercial-bank money, and redemption proceeds could reach only verified corporate bank accounts. This was a demonstration, not a broadly available treasury product, and the announcement does not disclose pricing, production limits or a launch timetable.
What it means for merchants
Large merchants with round-the-clock payout obligations should watch whether production versions can reduce weekend cash buffers. Before adoption, treasury teams need legal treatment, redemption cut-offs, fund liquidity, wallet governance, counterparty exposure and operational fallback arrangements documented across every participant.
Read the original announcement
Tradeweb · 30 Oct 2026This brief summarizes the linked primary source. Claims and reported figures have not been independently audited by Payment Guide.