Uber pilots tokenized cash management with HSBC and Franklin Templeton

tokenized cash management — Ride-hailing giant Uber has completed a pilot program with banking giant HSBC and asset manager Franklin Templeton to explore using tokenization to manage corporate cash reserves more efficiently.

The test, conducted on the HSBC Orion digital assets platform, allowed Uber to keep its funds invested in Franklin Templeton’s tokenized money market fund while still having the liquidity to make real-time payments. This structure enabled the company to earn yield on its cash even during weekends when traditional markets are closed.

The pilot demonstrates a growing institutional interest in using blockchain technology for treasury management, moving beyond speculative trading. Tokenization of real-world assets (RWA) like money market funds is seen as a major growth area for the digital asset sector.

HSBC stated that the successful test shows tokenization can provide corporations with greater flexibility and returns on their working capital. The bank’s Orion platform is designed to issue and manage digital assets for institutional clients.