HSBC is to offer Tokenised Deposits to clients in the US and UAE next year, according to Bloomberg.
HSBC’s global head of payment solutions, Manish Kohli, said the Tokenised Deposit Service will let companies move money within a country or internationally in just seconds and could make it easier for them to manage their cash.
“The topic of tokenisation, stablecoins, digital money and digital currencies has obviously gathered so much momentum. We are making big bets in this space,” Kohli said.
HSBC uses its own distributed ledger technology (DLT) to turn fiat deposits into digital tokens. This lets transactions be settled instantly, at any time of day.
The bank first introduced its Tokenised Deposit Service (TDS) in Hong Kong and Singapore for local payments. In September 2025, it expanded the service to support cross-border payments and added new markets, including the UK and Luxembourg.
