HSBC is reportedly preparing to expand its tokenised deposits services.
The global bank already offers the service in Hong Kong, Singapore, the UK and Luxembourg, and now plans to extend it to corporate clients in the US and the UAE beginning next year, Bloomberg reported.
HSBC’s Tokenised Deposit Service enables clients to send money locally and across borders within seconds and at any time, according to Manish Kohli, HSBC’s Global Head of Payments Solutions.
“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.
The report adds that HSBC currently processes transactions in euros, pounds, US dollars, Hong Kong dollars and Singapore dollars, and will add UAE dirhams next year as it expands into the Middle East.
The launch is scheduled for the first half of 2026.
As Bloomberg noted, HSBC’s move comes as many other banks explore how digital assets can speed up and streamline payments.
It also follows the introduction of the GENIUS Act in the United States, which establishes new rules for stablecoins, a rapidly growing category of digital money.
Featured image credit: Edited by Fintech News Middle East, based on image by suwant via Freepik
This article first appeared on Fintech News Switzerland
