Photo Credit : REUTERS
HSBC has rolled out its Tokenised Deposit Service in the UAE, introducing a new blockchain-powered solution that allows eligible corporate and institutional clients to transfer funds instantly across both domestic and international accounts.
The new service enables businesses to move money 24 hours a day, seven days a week, using tokenised banking rails while maintaining the security and structure of traditional bank deposits. With this launch, the UAE dirham becomes part of HSBC’s growing global tokenised deposit network, which already includes the euro, British pound, US dollar, Hong Kong dollar and Singapore dollar.
The move is designed to support large corporates with complex treasury operations spread across multiple markets, where quick access to liquidity and seamless fund transfers are increasingly critical.
Through the service, companies can transfer funds on-chain within HSBC’s network, helping to speed up settlement times, improve cash flow visibility and enhance working capital management. HSBC said the platform is fully compatible with existing banking and treasury systems, allowing clients to adopt the service without changing their core financial infrastructure.
Mohamed Al Marzooqi, Chief Executive Officer of HSBC Bank Middle East Limited in the UAE, said the launch highlights the country’s growing role in digital finance innovation and reflects strong demand from businesses for faster and more advanced treasury solutions.
The addition of the UAE dirham marks HSBC’s expansion into the Gulf region, linking the local currency to its broader international tokenised deposit ecosystem and strengthening connections with global trade corridors.
Kyle Boag, Regional Head of Global Payments Solutions for HSBC MENAT, said businesses are increasingly seeking instant, secure and always-available liquidity solutions as digital transformation accelerates across industries.
HSBC said the UAE launch forms part of its wider digital asset strategy aimed at bridging traditional banking systems with emerging digital networks. The bank added that the service could support a range of applications, including real-time treasury management, tokenised asset settlement, blockchain-enabled payment workflows and regulated digital money solutions.
