Uber used HSBC tokenized deposits to buy shares of a Franklin Templeton tokenized money-market fund on the Canton Network, then sold them three days later, according to a Bloomberg report published October 30. The company bought on a Thursday and sold on a Sunday, putting idle cash to work over a weekend when conventional rails are shut.
The reported benefit was about 1.5 extra days of yield compared with exiting the position on Friday. That is additional earning time, not a 1.5% return. The amount, the exact dates and the fund name were not disclosed, and Uber has not commented publicly. Tradeweb and Fireblocks were named as participants, with their roles not detailed.
HSBC said the pilot shows its tokenized-deposit infrastructure is ready and that it plans to extend the service to more US corporate clients. The details here come from Bloomberg as relayed by CoinTrust and Benzinga.