• CoinDesk reports Uber piloted a blockchain treasury system with HSBC, Franklin Templeton, Tradeweb and Fireblocks on the Canton Network.
• Uber used HSBC tokenized deposits to buy shares of Franklin Templeton's tokenized money market fund, with delivery-versus-payment settlement.
• The stated aim is to earn more on cash reserves without giving up access to funds for payments, including nights and weekends.
• The article reports no dollar amounts, and the pilot's date is not given beyond a Friday press release shared with CoinDesk.
• The deposit leg stays with the bank, so the test is as much about banks keeping corporate cash on their rails as about fund access.

Uber has run a pilot in which corporate cash moved into a tokenized money market fund and back, outside normal market hours. CoinDesk reported on October 31, 2026, citing a Friday press release, that the test involved HSBC, Franklin Templeton, Tradeweb and Fireblocks on the Canton Network. It remains a pilot, and the article gives no amounts.

How the pilot was built

CoinDesk reports that Uber used HSBC's tokenized bank deposits to buy shares of Franklin Templeton's tokenized money market fund through Tradeweb, with Fireblocks providing wallet infrastructure. Uber could also redeem part of its holdings, including over a weekend. Transactions settled together on the Canton Network using delivery-versus-payment, meaning the fund tokens and the payment moved together, so neither leg could complete without the other.

The problem it targets

The stated problem is a trade-off between yield and access. CoinDesk notes that cash in bank accounts earns less than short-term funds, but retrieving invested money can take time, so companies that pay at night or on weekends often hold extra cash rather than invest it. The pilot was framed as showing how companies could earn more on reserves without giving up access to funds for payments.

What Uber says it wants

Odette Rodrigues, Uber's vice president of corporate finance, treasury and capital markets, was quoted by CoinDesk saying the solution gives greater flexibility to optimize yield on available cash while meeting payment obligations, and reduces the need to maintain liquidity buffers. She called the pilot an important first step toward a more efficient, 24/7 model for managing working capital. These are Uber's stated goals, not measured results.

Why the bank leg matters

The pilot pairs two different instruments: shares in a money market fund and HSBC deposits representing commercial bank money. Because the payment leg is a bank liability, the bank stays inside the flow rather than being replaced by a stablecoin issuer. HSBC and Franklin Templeton were also named as participants at Canton Network's October 2026 summit, per the network's own summary, which does not mention the Uber pilot.

What remains undisclosed

The CoinDesk report contains no dollar amounts, yields, fees, pilot duration or number of transactions, and it links no primary press release. Quotes come only from Uber; none are attributed to HSBC, Franklin Templeton, Tradeweb or Fireblocks. Until those figures and a production timeline are disclosed, the pilot shows the settlement design works in a test, not that it is cheaper or in use at scale.