Uber joins HSBC, Franklin Templeton and other institutions i
On October 30, 2026, both Odaily Planet Daily and PANews, citing Bloomberg, reported that Uber participated in a blockchain investment pilot with institutions including HSBC and Franklin Templeton: using HSBC tokenized deposits, it bought a Franklin Templeton tokenized money market fund on Thursday and sold it on Sunday, earning an additional 1.5 days of yield. The pilot also involved Tradeweb and Fireblocks, with liquidity and settlement provided by Canton Network.
Event timeline
- [10-30 15:14] Uber participates in a blockchain investment pilot with institutions including HSBC and Franklin Templeton (Odaily Planet Daily)
- [10-30 15:21] Uber participates in a blockchain investment pilot with institutions including HSBC and Franklin Templeton (PANews)
Background and impact
Around 15:00 on October 30, 2026, Odaily Planet Daily and PANews reported successively that ride-hailing platform Uber had participated in a blockchain investment pilot with institutions including HSBC and Franklin Templeton. Both sources noted that the information came from Bloomberg and gave consistent core facts: Uber used HSBC tokenized deposits to buy a tokenized money market fund issued by Franklin Templeton on Thursday and sold it on Sunday, thereby earning an additional 1.5 days of yield. As of the time of reporting, there was no discrepancy between the two sources on the operational details and timing.
The key mechanism of the pilot is that investment and settlement are completed through a public blockchain. According to the reports, this allows companies to avoid having to sell assets before Friday bank and market closures as they would under the traditional approach, thereby retaining yield during the closure window. The pilot also involved Tradeweb and Fireblocks, with liquidity and settlement provided by Canton Network. The reports also gave the institutions' motivation: companies are seeking to increase treasury management yield while reducing reliance on overdraft facilities and credit lines. In other words, the pilot was described within the framework of corporate cash management efficiency, rather than crypto asset trading scenarios.
In terms of impact interpretation, statements from participants were positive, but on different time horizons. Fireblocks CEO Michael Shaulov expects that hundreds of large enterprises will adopt this model within the next 18 months; HSBC said the pilot has verified technical feasibility and that the relevant service is now ready to be promoted and expanded to other clients. The two sources differ in completeness on this point: the PANews version did not include Shaulov's forecast and HSBC's statement, while the Odaily Planet Daily version quoted them in full. For crypto market participants, such institutional pilots are often seen as samples for observing the implementation of tokenized deposits, tokenized funds, and on-chain settlement; users who access the market through entry points such as Huobi HTX registration and APP download, Gate.io registration and APP download, Bitget registration and APP download, Binance registration and APP download, and OKX registration and APP download can also track subsequent rollout progress based on public information, but the reports themselves did not disclose any product arrangements for individual users.
It should be noted that the available materials only cover the pilot itself and statements from participants, and do not involve specific asset scale, the number of participating enterprises, or regulatory approval status. Therefore, the pace of promotion of the above model still awaits verification by subsequent information.
FAQ
### Is this pilot directly related to ordinary crypto users?
Currently, no. The reports describe a corporate treasury management scenario: Uber used HSBC tokenized deposits to buy a Franklin Templeton tokenized money market fund. HSBC said the service is ready to be promoted to other clients, but the materials do not mention any individual-facing product.
### What milestones are worth watching?
Two points can be watched: first, whether Fireblocks CEO Michael Shaulov's forecast that hundreds of large enterprises will adopt this model within the next 18 months materializes; second, when the service HSBC described as "ready to be promoted and expanded to other clients" lands with new clients.
### Do the reports from the two sources conflict?
There is no conflict in the core facts; both note that they are based on Bloomberg reports, and their statements on timing and the 1.5 days of yield are consistent. The difference is in completeness: the PANews version did not include the Fireblocks CEO's forecast and HSBC's statement, while the Odaily Planet Daily version did.