Uber completed a pilot of a 24/7 liquidity and settlement workflow on the Canton Network, using tokenized bank deposits to buy tokenized money-market-fund shares and later redeeming part of the position over a weekend. HSBC announced the pilot on October 30, 2026, alongside Franklin Templeton, Tradeweb and Fireblocks. The test examined whether a company could keep cash invested for longer while accessing only the liquidity it needed outside conventional market hours.
Uber’s Canton pilot linked deposits, fund shares and settlement
HSBC Bank USA said Uber used HSBC Tokenized Deposits to buy Franklin Templeton tokenized money-market-fund shares through Tradeweb, with Fireblocks supporting delivery-versus-payment settlement on Canton.
The test assigned HSBC the tokenized deposits, Franklin Templeton the fund shares, Tradeweb the purchase and Fireblocks the settlement support. It also linked the purchase, settlement and subsequent partial redemption in one workflow.
By redeeming part of the position over a weekend, Uber could access liquidity outside traditional market hours while keeping cash invested for longer. The workflow was intended to operate around the clock, but HSBC described it only as a completed pilot rather than a standing, broadly available corporate treasury service.
The weekend redemption tested the treasury benefit
HSBC’s pilot tested whether Uber could remain invested into the weekend and still obtain liquidity when needed. HSBC said the partial redemption demonstrated access outside traditional market hours while keeping cash invested for longer; the exercise did not establish a standing, broadly available corporate treasury service.
Uber subscribed to the tokenized fund on Thursday and redeemed part of its holding on the following Sunday, according to Blockstories. The report described roughly 1.5 additional days of potential yield versus a Friday redemption.
That is a timing comparison, not a disclosed return for Uber or the fund, and it rests on a Sunday partial redemption rather than a Friday cash withdrawal. The approach allows an investor to access part of a holding without exiting it entirely when funds are needed before markets reopen.
No subscription or redemption amount, fund yield, or realized benefit to Uber was disclosed by HSBC.
HSBC Tokenized Deposits and Canton’s privacy model
Uber’s pilot paired HSBC tokenized deposits with Franklin Templeton tokenized money-market-fund shares, using Canton for delivery-versus-payment settlement. HSBC said the deposits are commercial-bank liabilities backed by deposits in HSBC demand accounts.
HSBC described Canton’s privacy-preserving architecture as limiting transaction details and balances to relevant counterparties and regulated entities. The arrangement demonstrated how a 24/7 workflow could let Uber redeem part of a position over a weekend for liquidity while keeping cash invested longer.
The announcement did not provide transaction sizes or further operational details, nor did it say whether the workflow would move beyond the pilot.
