Uber tests tokenized cash with HSBC and Franklin Templeton to earn yield around the clock
Uber pilots always-on corporate cash with tokenized funds
Uber has tested a way to keep its corporate cash earning returns at all hours while still being able to spend it, even on weekends. The ride-hailing company completed a pilot with HSBC, Franklin Templeton, Tradeweb and Fireblocks, the companies said in a press release shared with CoinDesk on Friday, October 31, 2026.
The test used tokenization, which means putting assets such as fund shares and bank deposits onto a blockchain (a shared digital ledger) so they can move and settle quickly. The assets ran on the Canton Network.
Key points from the pilot
- Uber bought shares in Franklin Templeton's tokenized money market fund (a short-term, low-risk investment fund) using HSBC's tokenized bank deposits.
- Tradeweb handled the trading, and Fireblocks provided the wallet infrastructure (digital wallets that hold the tokens).
- Uber could also redeem, or cash out, part of its holdings, including over a weekend, with trades settling together on the Canton Network.
- Trades used delivery-versus-payment settlement, meaning the fund tokens and the payment moved at the same time, so one side cannot complete without the other.
The problem the test aimed to solve
Cash sitting idle in a bank account earns less than money placed in short-term funds, but pulling cash out of an investment can take time. Companies that need to pay people at night or on weekends often keep extra cash on hand instead of investing it. The pilot showed a possible fix: if investments and payments settle on the same network, a company can keep its money invested longer and tap it when a payment is due.
What Uber says about the result
"Always-on access to cash and the ability to put liquidity to work more efficiently are increasingly important to our business," said Odette Rodrigues, Uber's vice president of corporate finance, treasury and capital markets. She said the solution gives Uber more flexibility to optimize yield on available cash while meeting payment obligations, reducing the need to hold liquidity buffers (extra cash kept aside for safety).
What is confirmed and what is not
Confirmed: the pilot was completed and involved HSBC, Franklin Templeton, Tradeweb and Fireblocks on the Canton Network, including a weekend redemption. The system remains a pilot, not a full production setup. The source material does not state how much money Uber moved in the test or whether the system will go live more widely.
Why it matters for corporate finance
For large company treasuries, the setup could mean keeping more cash in yield-bearing investments instead of large idle reserves, then converting to spendable money when a payment is due. The pilot offered a glimpse of how tokenized funds and tokenized bank money could work together for round-the-clock cash management.
Sources
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.