HSBC will offer tokenized deposit services to customers in the United States and the United Arab Emirates.

HSBC Holdings Plc will begin offering tokenized deposit services to corporate clients in the U.S. and the United Arab Emirates in the first half of next year. Manish Kohli, Head of Global Payments Solutions at HSBC, stated that the tokenized deposit service will allow clients to make domestic and cross-border fund transfers 24/7 with instant processing, without being limited to business hours. He added that the system will help large enterprises manage liquidity more efficiently.