HSBC is extending its multi-currency, blockchain-based deposit platform to US and UAE corporate clients, aiming to streamline real-time domestic and international payments.
HSBC will introduce its Tokenized Deposit Service to corporate clients in the United States and United Arab Emirates in the first half of 2025, according to Bloomberg. The blockchain-powered system, which supports multiple currencies, enables real-time local and cross-border transfers. It is already accessible in Hong Kong, Singapore, the UK, and Luxembourg, and will soon include the UAE dirham as a supported currency.