Uber Joins Blockchain Investment Pilot With HSBC, Franklin Templeton and Others

October 30 — According to Bloomberg, Uber has joined a blockchain investment pilot involving institutions such as HSBC and Franklin Templeton, using HSBC's tokenized deposits to buy a tokenized money market fund issued by Franklin Templeton on Thursday and sell it on Sunday, thereby earning an extra 1.5 days of yield. The model carries out investment and settlement of funds via a public blockchain, so companies no longer need to sell assets before banks and markets close on Friday as they would under the traditional approach. The pilot also involves Tradeweb and Fireblocks, with liquidity and settlement provided by the Canton Network.