Update
Uber Tests Blockchain System for Weekend Cash Management
Uber has tested a blockchain-based system that allows it to earn additional returns on corporate cash over weekends, when traditional markets are closed. The pilot involved HSBC, Franklin Templeton, Tradeweb, and Fireblocks. It allowed Uber to buy tokenized money market fund shares on Thursday and sell them on Sunday, earning about 1.5 additional days of yield. The trial used HSBC tokenized deposits to purchase shares in a Franklin Templeton money market fund through infrastructure supported by Canton Network. The arrangement demonstrated how companies could manage surplus cash outside traditional banking hours.