Uber and other institutions complete Canton on-chain settlement pilot, weekend trading gains approximately 1.5 extra days of yield

On October 31, Uber partnered with HSBC, Franklin Templeton, Tradeweb, and Fireblocks to complete its first on-chain liquidity and settlement pilot on the Canton blockchain.

In the pilot, Uber used HSBC tokenized deposits to purchase Franklin Templeton tokenized money market funds on Thursday and sold them on Sunday. Compared to traditional settlement on Friday, this transaction arrangement enabled the funds to generate approximately 1.5 days of additional yield.