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Uber pilots tokenized deposit program using HSBC funds for higher yields

1 report, 1 independent Updated Fri 00:00
AI-generated briefing. Brind wrote this from the reports listed below. It can be wrong. Each section says how much you can rely on it, and the sources are linked so you can check.

What happened

Some supportReported by 1 outlet

Uber utilized a public blockchain in a pilot program with Fireblocks, using tokenized deposits from HSBC. This setup allowed Uber to purchase a Franklin Templeton tokenized money market fund on Thursday and sell it on Sunday. This strategy captured an extra 1.5 days of yield compared to traditional market closing times.

From thehindubusinessline.com

Why it matters

Some supportBrind's analysis of the reports

The program demonstrates a method for corporations to put idle cash to work and increase treasury yields. This model could help companies reduce their reliance on expensive overdraft facilities and credit lines.

From thehindubusinessline.com

Who's involved

  • HSBCProvided tokenized deposits for the pilot program
  • FireblocksCollaborated with HSBC on the tokenized deposit pilot program

Who could feel it

Possible knock-on effects

These are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.

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Coverage

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