HSBC on Canton Network
HSBC launched a Tokenized Deposit Service (TDS) pilot on the Canton Network in April 2026, marking the first time a tokenized deposit was issued on a public blockchain by a major global bank. With operations in 62 countries, HSBC brings institutional-grade credibility to Canton's settlement infrastructure. The TDS pilot enables HSBC clients to hold and transfer tokenized deposits on Canton's privacy-preserving rails, representing a major milestone for regulated digital money on public blockchain infrastructure.
HSBC's Role in the Canton Ecosystem
As a Tokenized Deposit Issuer in the Financial Institution category, HSBC contributes to the Canton Network's growing ecosystem of 119+ institutional participants. HSBC provides essential financial institution services that support Canton's institutional DeFi infrastructure.
About the Canton Network
The Canton Network is a privacy-enabled blockchain designed for institutional finance. With a market capitalization of approximately $5.47 billion, 976 active validators, and over 642,000 daily transactions, Canton has established itself as the leading blockchain for regulated financial markets.
Canton's unique architecture — built on Digital Asset's Daml smart contract language — provides sub-transaction privacy, deterministic finality, and cross-domain composability. This allows institutions like HSBC to transact on shared infrastructure while maintaining data privacy and regulatory compliance.