Uber has joined a blockchain-based investment pilot with HSBC, Franklin Templeton, Tradeweb, and Fireblocks to test tokenized fund settlement on public blockchains. The trial involved Uber using HSBC's tokenized deposits to purchase a Franklin Templeton tokenized money market fund on Thursday and sell it on Sunday, capturing an additional 1.5 days of yield compared to traditional Friday-close constraints.
The pilot leverages the Canton Network for liquidity and settlement, enabling continuous trading and fund movement without relying on traditional banking hours or market closures. This model demonstrates how tokenization can eliminate weekend dead capital by allowing assets to be bought and sold seamlessly across weekends via blockchain infrastructure.
Uber Joins Blockchain Pilot With HSBC, Franklin Templeton to Test Tokenized Fund Settlement
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