Uber completes tokenized treasury pilot with HSBC and Franklin Templeton on Canton Network
Uber used tokenized bank deposits to buy and redeem shares of a tokenized money market fund over a weekend.
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Uber completed a pilot of a blockchain-based treasury system with HSBC, Franklin Templeton, Tradeweb, and Fireblocks on the Canton Network, the companies said on October 30, 2026.
In the pilot, Uber used HSBC’s tokenized bank deposits to purchase shares of a Franklin Templeton tokenized money market fund. Tradeweb executed the purchase, and Fireblocks provided the wallet infrastructure. Uber later redeemed part of its holdings over a weekend, with transactions settling together on Canton.
The trades used delivery-versus-payment settlement, ensuring the fund tokens and payment moved simultaneously. The structure aims to allow companies to keep idle cash invested in a money market fund while accessing it for payments at any time, including weekends, without waiting for banking hours.
“This solution gives us greater flexibility to optimize yield on available cash,” said Odette Rodrigues, Uber’s vice president of corporate finance, treasury, and capital markets. “It was an important first step toward a more efficient, 24/7 model.”
The system remains a pilot.
For corporate treasuries and related software, the test demonstrates the potential for always-on settlement of cash and fund positions, with payment and asset legs completing as a single transaction on a shared network.