Uber and Other Institutions Complete Canton On-Chain Settlement Pilot, Earning About 1.5 Extra Days of Yield on Weekend Trade

According to Shenchao TechFlow, on October 31, Uber, in partnership with HSBC, Franklin Templeton, Tradeweb, and Fireblocks, completed the first on-chain liquidity and settlement pilot on the Canton public chain.

In the pilot, Uber used HSBC tokenized deposits on Thursday to purchase Franklin Templeton tokenized money market funds and sold them on Sunday. Compared with exiting on Friday under traditional arrangements, this trade structure allowed the funds to earn approximately 1.5 additional days of yield.

Source: Shenchao TechFlow