HSBC completes tokenized deposit pilot on Canton Network, supporting real-time settlement in USD, HKD, and other currencies According to Financial IT, HSBC's Global Payment Solution (GPS) business has successfully completed a pilot of Token Deposit Service (TDS) on the Canton Network, a public chain for regulated institutions, simulating the entire process of token deposit issuance, transfer, and atomic settlement with other digital assets. This is the first time HSBC TDS has been issued and used on a public chain. HSBC TDS supports major currencies such as USD, GBP, EUR, HKD, SGD, etc. It can convert fiat deposits into digital tokens at a 1:1 ratio and enable instant transfers on HSBC's ledger. It supports real-time settlement and programmable payments 24/7. \Manish Kohli, Head of Global Payment Solutions at HSBC, stated that this pilot demonstrates the evolution direction and required infrastructure of tokenization in the banking industry. The company's focus is on building secure and interoperable capabilities that enable customers to transfer funds more efficiently in different environments. Yuval Rooz, co-founder of Canton Network and CEO of Digital Asset, stated that tokenized deposits are accelerating their implementation in the capital markets, corporate banking, and fund management sectors, and Canton has become one of the main deployment networks.