Dubai, UAE – HSBC has expanded its digital banking capabilities in the United Arab Emirates with the launch of its Tokenized Deposit Service (TDS), a blockchain-powered solution designed to facilitate real-time fund transfers and enhance liquidity management for corporate clients.
The new service enables eligible businesses to move funds instantly and securely, both domestically and internationally, around the clock. Through blockchain technology, companies can transfer money between treasury centers and subsidiaries on-chain, helping streamline global cash management and improve operational efficiency.
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 shaping the future of digital finance.
“This launch marks another significant step in the future of money movement, and the UAE is uniquely positioned to lead this shift,” Al Marzooqi said. “The introduction of tokenized deposits reflects the maturity of the UAE’s regulatory framework for digital finance and the increasing demand from businesses for more advanced treasury management solutions.”
With the addition of the UAE dirham, HSBC’s tokenized deposit network now supports six major currencies, including the euro, pound sterling, US dollar, Hong Kong dollar, and Singapore dollar. The expansion strengthens connectivity between the Gulf region and international trade and investment corridors.
Kyle Boag, Regional Head of Global Payments Solutions for the Middle East, North Africa and Türkiye (MENAT), noted that businesses are increasingly seeking faster and more secure liquidity solutions to support global operations.
“As organizations operate in an increasingly digital and interconnected economy, the demand for instant and always-on liquidity solutions continues to grow,” Boag said. “Tokenized deposits represent a natural evolution of HSBC’s digital asset strategy in one of the world’s most dynamic financial centers.”
The service offers several benefits for businesses, including accelerated settlements, 24/7 availability for domestic and cross-border transactions, improved working capital management, and seamless integration with existing banking and treasury systems.
Additionally, the platform provides greater visibility into cash positions, enabling real-time liquidity decisions while reducing manual processes through straight-through transaction processing.
HSBC said the Tokenized Deposit Service is available to eligible corporate and institutional clients in the UAE, subject to regulatory approvals, documentation requirements, and onboarding procedures.
The UAE launch follows HSBC’s rollout of the service in key global markets, including Singapore, the United States, Hong Kong, Europe, and the United Kingdom. In a recent interview with The Asian Banker, Lewis Sun, HSBC’s Global Head of Digital Currencies for Corporate and Institutional Banking, identified the UAE as the next strategic market for the bank’s tokenized deposit expansion.
