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HSBC completes tokenised deposit pilot on canton network HSBC has successfully tested its Tokenised Deposit Service on the Canton Network (Canton Network). The pilot simulated issuance, transfer and atomic settlement of tokenised deposits. This marks the first time HSBC used its system on a public blockchain environment. The test...

22,102 views • 2 months ago •via X (Twitter)

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We just published our latest research: "Tokenized Deposits: The Future of Money." The report breaks down how commercial bank deposits are moving onto blockchain infrastructure, and what that means for the financial system. Here's what we found: 🪙 Tokenized deposits, stablecoins, and CBDCs serve different roles. They complement each other rather than compete. 🪙 J.P. Morgan, Citi, BNY, Standard Chartered, HSBC and Lloyds are already running live tokenized deposit services for institutional clients. 🪙 Five US regional banks announced a shared tokenized deposit network in February 2026, signaling adoption beyond the top tier. 🪙 87% of financial institutions are exploring tokenization. 🪙 Digital currencies are projected to process up to $13 trillion in transaction value by 2030. 🪙 Global customer deposits totaled $103 trillion in 2024. Even a fraction moving on-chain creates a market far larger than today's stablecoin sector. The regulatory picture is also shifting. The US GENIUS Act provides clarity for stablecoins while keeping tokenized deposits under existing banking law. The UK's GBTD pilot is live with seven major banks. The ECB is advancing the Digital Euro. And in the UAE, the Digital Dirham has gone live on the mBridge platform. The big challenge ahead: interoperability. Tokenized deposits remain liabilities of individual banks. Scaling requires networks that let deposits issued by one bank settle with another. Projects like BIS Project Agora, Partior, and the UK's GBTD are working on exactly this. This report was shaped with contributions from 15 organizations, including Standard Chartered, Citi, BNY, J.P. Morgan, Ondo Finance, Digital Asset, Canton Network, LayerZero, BMW, ABN AMRO, ERC3643.org, TRON DAO, UK Finance, Cambridge University and Alchemy. A big thank you to anyone involved 🤝

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10,661 views • 3 months ago