Uber used HSBC tokenized deposits to buy a Franklin Templeton tokenized money market fund on a Thursday and sold it on Sunday in a pilot, capturing about 1.5 extra days of yield versus the usual Friday exit before banks and markets close, Bloomberg reported Oct. 30.

Uber used HSBC tokenized deposits to buy a Franklin Templeton tokenized money market fund on a Thursday and sold it on Sunday in a pilot, capturing about 1.5 extra days of yield versus the usual Friday exit before banks and markets close, Bloomberg reported Oct. 30.

The other participants were Tradeweb and Fireblocks, with liquidity and settlement on Canton Network, as summarized by LongViewCrypto and CantonArmy.

HSBC says the service is now available to other clients in the US with more funds to be added beyond Franklin Templeton, while Fireblocks CEO Michael Shaulov expects hundreds of companies on this model in the next 18 months.

The deal size, the fund's tokenization network and terms for Uber were not disclosed. This was regulated cash management with tokenized deposits and a tokenized MMF, not Uber buying speculative crypto.

Separately, HSBC's Hong Kong dollar stablecoin RedCoin rollout to PayMe users and tokenized fund plans were covered in our Oct. 23 note via the SCMP report.