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<p>Uber (<a href="https://x.com/Uber" rel="noopener noreferrer nofollow">@Uber</a>) has completed a pilot of a tokenized cash management system on the Canton Network (<a href="https://x.com/CantonNetwork" rel="noopener noreferrer nofollow">@CantonNetwork</a>), working with HSBC (<a href="https://x.com/HSBC" rel="noopener noreferrer nofollow">@HSBC</a>), Franklin Templeton (<a href="https://x.com/FTDA_US" rel="noopener noreferrer nofollow">@FTDA_US</a>), Tradeweb and Fireblocks (<a href="https://x.com/FireblocksHQ" rel="noopener noreferrer nofollow">@FireblocksHQ</a>). The test aimed to show how corporate cash could keep earning a return while staying available for payments at any hour.</p>
<h2 id="how-the-uber-pilot-worked">How the Uber pilot worked</h2>
<p>According to the announcement published by Tradeweb, Uber used HSBC Tokenized Deposits to buy Franklin Templeton tokenized money market fund shares on Tradeweb. The trades were delivery-versus-payment transactions on Canton, run through Fireblocks. In the same release, the partners said balances earn yield in the tokenized fund until the moment of disbursement.</p>
<p>Delivery-versus-payment is designed so that the cash and the asset settle together. TokenPost reported that the structure links the transfer of an asset with its payment. Tradeweb handled the transactions, while Fireblocks supplied the wallet infrastructure.</p>
<p>The pilot also included a weekend redemption. CoinDesk reported that Uber redeemed part of its holdings over a weekend, with the transactions settling together on the Canton Network (<a href="https://x.com/search?q=%24CC&amp;src=cashtag_click" rel="noopener noreferrer nofollow">$CC</a>). The pilot combined two types of tokenized assets: shares in Franklin Templeton's money market fund and HSBC deposits representing commercial bank money, CoinDesk added.</p>
<h2 id="why-idle-corporate-cash-matters">Why idle corporate cash matters</h2>
<p>The pilot targets a cost large businesses face. Companies that need to make payments at night or over weekends often keep extra cash on hand rather than invest it, according to CoinDesk. The partners said that by keeping eligible cash invested for longer, the pilot showed potential to improve working capital yield by reducing cash buffers while preserving access to liquidity when payments are due.</p>
<p>Uber's executive Rodrigues called the pilot, in comments carried by CoinDesk, an important first step toward a more efficient, 24/7 model for managing working capital.</p>
<p>The system remains at the pilot stage. BTCNews noted that businesses would still want clarity on fees, eligible instruments, legal settlement finality and responsibility if a bank, fund administrator or network cannot complete a transfer.</p>
<h2 id="sources">Sources</h2>
<p><a href="https://www.tradeweb.com/newsroom/media-center/in-the-news/uber-completes-pilot-of-a-first-ever-on-chain-liquidity-and-settlement-solution-on-a-public-network-pioneered-by-hsbc-franklin-templeton-tradeweb-and-fireblocks-on-canton/" rel="noopener noreferrer nofollow">Tradeweb: Uber completes pilot of on-chain liquidity and settlement solution on Canton</a><br><a href="https://www.coindesk.com/business/2026/10/31/uber-tests-how-tokenization-can-put-idle-cash-to-work-with-hsbc-franklin-templeton" rel="noopener noreferrer nofollow">CoinDesk: Uber tests how tokenization can put idle cash to work</a><br><a href="https://www.tokenpost.com/news/business/45292" rel="noopener noreferrer nofollow">TokenPost: Uber completes blockchain treasury pilot with HSBC, Franklin Templeton</a></p>

Uber Completes Tokenized Cash Management Pilot on Canton Network With HSBC and Franklin Templeton

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