HSBC Completes Tokenized Deposit Pilot on Canton Distributed Ledger

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HSBC's Global Payments Solutions business successfully completed a pilot simulating the issuance, transfer, and atomic settlement of its Tokenized Deposit Service on the Canton distributed ledger network. The pilot demonstrates enterprise-grade DLT settlement capabilities for institutional banking, with atomic settlement eliminating counterparty risk. Canton's multi-party network enables HSBC to interact with other financial institutions on shared infrastructure while maintaining privacy.