Uber earns extra weekend yield in Canton blockchain pilot
The pilot kept Uber’s cash invested through the weekend and produced 1.5 extra days of yield, Bloomberg reported.
- Uber tested HSBC's tokenized deposits to purchase a Franklin Templeton money market fund, earning an additional 1.5 days of yield by keeping cash invested through the weekend.
- CEO Dara Khosrowshahi previously stated the company was studying stablecoins for payments at the Bloomberg Tech Summit in San Francisco, reflecting Uber's long-term interest in blockchain for cross-border transactions.
- Tradeweb and Fireblocks participated in the transaction alongside HSBC and Franklin Templeton, while Canton facilitated liquidity and settlement, enabling investment over the weekend rather than Friday liquidation.
- HSBC executive Manish Kohli stated the pilot demonstrated technical readiness, as the bank plans to extend access to additional U.S. corporate customers beyond Franklin Templeton's investment products.
- The Fireblocks chief executive expects hundreds of corporations to adopt blockchain-based investment models within 18 months, combining interoperability with the privacy requirements institutional finance demands.
11 Articles
11 Articles
Uber earns extra weekend yield in Canton blockchain pilot
Uber has tested a blockchain-based investment with HSBC and Franklin Templeton that earned an extra 1.5 days of yield by keeping corporate cash invested through part of the weekend. According to Bloomberg, Uber used HSBC’s tokenized deposits to buy a…
Uber Joins HSBC, Franklin Templeton in Blockchain Investing Test
The ride-hailing company Uber Technologies Inc. used a public blockchain to invest its corporate funds in a way that allowed the company to capture higher returns by trading on a weekend — a setup expected to be adapted by a growing number of companies in the coming months.
Uber participated in a test that combined HSBC’s Tokenized Deposits with stakes in a Franklin Templeton Tokenized Monetary Market Fund. The company bought the fund on a Tuesday and sold it on a Sunday. According to Bitcoin News, that operation made it possible to add 1.5 days of return to a sale on Friday; the trial tested how blockchain infrastructure could extend investment time.
Uber Tests Tokenized Money Funds to Unlock 24/7 Trading Yield
The ride-sharing giant used a tokenized money market fund to earn 1.5 days more yield on its investment by selling the assets on Sunday rather than Friday, as institutions traditionally do. Franklin Templeton, HSBC Holdings, and Fireblocks collaborated in this test. Uber Tests Weekend Trading In Tokenized Market Fund Investments Companies are turning to blockchain […]
Uber Tests Blockchain Treasury With HSBC, Earns Extra 1.5 Days of Yield
Uber has completed a corporate treasury management pilot using blockchain technology in collaboration with HSBC, Franklin Templeton, Tradeweb, and digital asset custody firm Fireblocks. The initiative demonstrated how companies could invest idle corporate cash outside conventional banking hours and generate additional returns through tokenized financial instruments. The transaction was conducted on the Canton Network, an […]
Coverage Details
Bias Distribution
- 75% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
