HSBC announced the completion of its tokenized deposit pilot project on the Canton network.

CoinFeed reported on April 13th that, according to Financial IT, HSBC's Global Payments Solutions has completed a pilot program for its Tokenized Deposit Service (TDS) on the public blockchain Canton Network, marking the first time the bank has issued tokenized deposits and used them in a public blockchain scenario. In the pilot, HSBC simulated the issuance and transfer of tokenized deposits between Canton-supported applications and digital assets, as well as atomic settlement with other digital assets, verifying TDS's ability to handle settlements across multiple asset classes on the same network.