Uber tests tokenised treasury with HSBC, earns 1.5 extra days of yield
What's the deal? UberDealroom has a profile for this one. Try Dealroom → has completed a blockchain-based cash management pilot with HSBCDealroom has a profile for this one. Try Dealroom →, Franklin Templeton, Tradeweb, and FireblocksDealroom has a profile for this one. Try Dealroom → on the Canton Network. It used HSBC tokenised deposits to buy shares in Franklin Templeton's tokenised money market fund, keeping cash invested while remaining able to pull it out for payments.
How it worked: Uber bought fund units on a Thursday and sold a portion the following Sunday, with both the cash and asset legs settling together on a public blockchain. Because the transaction was not tied to banking and market hours, the position stayed invested through the weekend — earning what the companies said was an extra 1.5 days of yield.
Why it matters: Treasurers traditionally face a tradeoff between earning yield and keeping cash available for payments outside market hours. Shares in money market funds settle on T+1 or longer, so firms often hold idle buffers or lean on overdrafts and credit lines.
The pilot showed a regulated bank and an asset manager connecting their products on shared infrastructure, settling cash and assets near-instantly in a single execution to cut settlement risk.
What's the endgame? HSBC said the pilot validated the technical feasibility of the approach and that the service is now ready for broader rollout to other clients. Fireblocks chief executive officer Michael Shaulov expects hundreds of large enterprises to adopt the model within 18 months.
The signal: The test fits a wider push to make tokenised cash and fund shares usable beyond market hours — Hong Kong's HKMADealroom has a profile for this one. Try Dealroom → has expanded its EnsembleTX pilot toward 24/7 interbank settlement, and Standard CharteredDealroom has a profile for this one. Try Dealroom → has launched tokenised deposits for corporate clients there. The gain is practical, not a leap in returns: Uber's test does not yet prove adoption at scale, and the sums involved were not disclosed.
Read more: europesays.com
Image credit: jurvetson
