---
title: "HSBC Completes First Tokenised Deposit Pilot on Canton Network"
description: "HSBC has successfully completed a pilot simulating the issuance, transfer, and atomic settlement of its Tokenised Deposit Service (TDS) on the Canton Network — marking the first time the bank's TDS was issued and used on a public blockchain."
url: "https://cantonnews.org/hsbc-completes-first-tokenised-deposit-pilot-on-canton-network"
canonical: "https://cantonnews.org/hsbc-completes-first-tokenised-deposit-pilot-on-canton-network"
markdown_url: "https://cantonnews.org/hsbc-completes-first-tokenised-deposit-pilot-on-canton-network.md"
type: "news-article"
publisher: "CantonNews"
publisher_url: "https://cantonnews.org"
author: "CantonNews"
author_url: "https://cantonnews.org/author/cantonnews"
author_type: "organization"
date_published: "2026-04-13T11:39:49.860Z"
category: ["TOKENIZATION"]
tags: ["HSBC", "Tokenised Deposits", "Canton Network", "Atomic Settlement", "Digital Assets", "Institutional Finance", "Payments"]
image: "https://financialit.net/sites/default/files/hsbc_31.png"
read_time_minutes: 2
language: "en"
---

# HSBC Completes First Tokenised Deposit Pilot on Canton Network

**By [CantonNews](https://cantonnews.org/author/cantonnews), Editorial Team** · Published 13 April 2026 · TOKENIZATION

> HSBC has successfully completed a pilot simulating the issuance, transfer, and atomic settlement of its Tokenised Deposit Service (TDS) on the Canton Network — marking the first time the bank's TDS was issued and used on a public blockchain.

![HSBC Completes First Tokenised Deposit Pilot on Canton Network](https://financialit.net/sites/default/files/hsbc_31.png)

## What the Pilot Involved

Conducted through HSBC's Global Payments Solutions (GPS) business, the pilot tested the full lifecycle of tokenised deposits within Canton-enabled applications. HSBC simulated the transfer of tokenised deposits and their atomic settlement against other digital assets, exploring how Canton's infrastructure can serve as a settlement rail connecting cash and asset legs through delivery-versus-payment (DvP) mechanisms.

The controlled environment demonstrated that HSBC's deposits can be issued on a public, permissioned network while maintaining the privacy, compliance, and regulatory standards expected of a global institution.

## Why Canton Network

Canton's architecture proved central to the pilot's value proposition. Its interoperability layer allowed HSBC's tokenised deposits to move across institutions and applications seamlessly — a capability that Yuval Rooz, CEO of Digital Asset and co-founder of the Canton Network, described as increasingly in demand:

> _"Tokenized deposits are gaining traction across capital markets, corporate banking, and treasury, and Canton is quickly becoming a primary network for deployment, enabling tokenized deposits to move seamlessly across institutions and applications while maintaining privacy, control and interoperability."_

## HSBC's Broader Tokenisation Strategy

The pilot builds on HSBC's existing TDS rollout, which allows corporate clients to convert fiat deposits into digital tokens on a 1:1 basis and transfer them instantly on HSBC's internal ledger. The service currently supports USD, GBP, EUR, HKD, and SGD, offering 24/7 real-time settlement and programmable payment capabilities.

Manish Kohli, Head of Global Payments Solutions at HSBC, emphasized the strategic direction: _"Our focus is on building secure, interoperable capabilities that enable clients to move money more efficiently across different environments, while maintaining the trust and regulatory standards expected of a global bank."_

The pilot signals HSBC's intent to extend TDS beyond its internal ledger and into shared institutional infrastructure — with Canton Network positioned as a key connectivity layer for that expansion.

---

## About this document

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