Cash that used to sit dead from Friday to Monday just worked through a whole weekend. Uber kept its money in a tokenized money market fund, pulled part of it out on a Sunday, and still picked up about 1.5 extra days of yield.
Key points:
- Uber bought a Franklin Templeton tokenized money market fund with HSBC tokenized deposits, on the Canton Network.
- The trade ran from Thursday to Sunday, so Uber did not have to sell on Friday just to have cash ready for the weekend.
- HSBC plans to offer the same setup to more US companies, but nobody has shared how big Uber's trade was.
The pilot was announced on October 30, 2026, by HSBC, Franklin Templeton, Tradeweb and Fireblocks, with Uber as the pilot client. It ran on Canton, a public network built for banks and other regulated firms. The firms call it a first-ever on-chain liquidity and settlement solution on a public network.
On Thursday, Uber used HSBC tokenized deposits, digital tokens that stand for bank deposits, to buy shares in the Franklin Templeton tokenized money market fund on Tradeweb. The cash and the fund shares settled together, in one synced step, on Canton through Fireblocks. On Sunday, Uber sold part of its holding and turned it back into cash, while the money kept earning yield right up to payout.
Read also: What Is Crypto Tokenization? A Beginner's Guide to Real-World Assets
Why does a weekend trade matter so much?
Company treasurers face a plain trade-off every week. Cash left in a fund earns yield, but cash needed for payments has to be free, and banks and markets shut over the weekend. So firms often sell on Friday and watch the money sit idle until Monday. This test showed a way out of that trap: stay invested longer, yet still get cash out when a payment needs it, even on a Sunday.
My own read is simple: a pilot with no size attached proves the plumbing works, not that treasurers will rush to use it. Watch whether HSBC signs up other US firms, and whether the next trades carry real dollar figures. Fireblocks chief Michael Shaulov said he expects hundreds of big firms to try this model in the next 18 months, so the next few announcements will show if that bet holds up.
Read also: DTCC Puts $30 Trillion of Stocks and Treasuries on Blockchain
— BitByLine News Desk
This post is news only, not financial advice. BitByLine never tells anyone to buy or sell crypto, and whether you buy or not is always your own call and your own risk, so do your own research first. Read our full Disclaimer.
Sources: CoinDesk, Canton Network
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