Uber completes tokenized treasury pilot with HSBC, Franklin Templeton on Canton Network
Uber finished a pilot that used tokenized bank deposits to buy and redeem shares of a tokenized money market fund on the Canton Network.
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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 in a press release on October 30, 2026, as reported by CoinDesk on October 31.
Under the pilot, Uber used HSBC’s tokenized bank deposits to buy shares of a Franklin Templeton tokenized money market fund. Tradeweb executed the purchase, and Fireblocks supplied the wallet infrastructure. Uber later redeemed part of its holdings over a weekend, and the transactions settled together on Canton.
Trades used delivery-versus-payment settlement, so the fund tokens and the payment moved at the same time. According to the companies, the structure is meant to let a company keep idle cash invested in a money market fund and still reach it for payments at any hour, including weekends, rather than 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. She called the pilot “an important first step in our journey towards a more efficient, 24/7 model.”
The system remains a pilot.
For corporate treasuries and the software that will run them, the test points to always-on settlement of cash and fund positions, with the payment leg and the asset leg completing as one transaction on a shared network.