Uber Joins Blockchain Investment Pilot With HSBC and Franklin Templeton

Uber participated in a blockchain investment pilot involving HSBC and Franklin Templeton, buying a tokenized money market fund on Thursday and selling it on Sunday to earn an additional 1.5 days of yield. According to Odaily, the transaction used HSBC tokenized deposits and a public blockchain, allowing the investment and settlement to continue without selling assets before banks and markets closed on Friday. The pilot also involved Tradeweb and Fireblocks, with Canton Network providing liquidity and settlement. Fireblocks CEO Michael Shaulov expects hundreds of large companies to adopt the model within the next 18 months. HSBC said the pilot demonstrated the technology’s feasibility and that the service is ready to be expanded to other clients.