PANews 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 and atomic settlements with other digital assets across Canton- supported applications and digital assets, verifying TDS's ability to settle multiple asset classes on the same network. HSBC stated that it will continue to explore connecting more settlement channels through infrastructure such as Canton , expanding DvP settlement across cash and asset ends. Currently, TDS supports USD , GBP , EUR , HKD , and SGD , allowing for the conversion of fiat currency deposits into tokens at a 1:1 ratio and 24/7 real-time settlement and programmatic payments on its ledger, optimizing institutional liquidity management.