The UAE dirham has been added to HSBC’s digital deposit network, enabling 24/7 treasury transfers.
Dubai: HSBC has introduced its Tokenised Deposit Service in the UAE, allowing eligible corporate and institutional clients to instantly transfer funds across domestic and cross-border accounts.
The service enables companies to move funds 24/7 using blockchain-based rails while retaining the structure of a traditional bank deposit. With this launch, the UAE dirham is now part of HSBC’s tokenised deposit network, which already includes the euro, pound sterling, US dollar, Hong Kong dollar, and Singapore dollar.
The initiative targets large enterprises with treasury operations across multiple markets, where cash frequently needs to be moved between headquarters, regional hubs, and subsidiaries.
Through the Tokenised Deposit Service, clients can transfer funds on-chain within HSBC’s network, enabling faster settlement, improved cash visibility, and more efficient working capital management.
The bank said the service is built to integrate with existing banking and treasury systems, allowing companies to use it without changing their core banking infrastructure.
“This launch marks another significant step in the future of money movement, and the UAE is uniquely positioned to lead this shift,” said Mohamed Al Marzooqi, CEO, UAE, HSBC Bank Middle East Limited. “The introduction of tokenised deposits to the UAE reflects the maturity of the local regulatory environment for digital finance, as well as strong corporate demand in this market for more advanced treasury tools.”
The addition of the UAE dirham expands HSBC’s tokenised deposit network into the Gulf, connecting the currency to major global financial markets and trade flows routed through the UAE.
The service can help reduce manual processing, enable straight-through payments, and improve decision-making by giving treasury teams real-time visibility into liquidity.
“The demand for instant, secure, always-on liquidity solutions is only increasing as businesses seek to compete in a globalized and highly digitalised world,” said Kyle Boag, Regional Head of Global Payments Solutions, HSBC MENAT. “Tokenised deposits are a natural extension of our global digital asset strategy into one of the world’s most dynamic financial hubs.”
HSBC said the UAE rollout is part of its broader digital asset strategy aimed at building an interoperable money layer that connects traditional financial infrastructure with emerging digital networks.
The bank added that the initiative could enable multiple use cases, including real-time treasury management, settlement of tokenised assets, blockchain-enabled workflows, and regulated digital money solutions.
The Tokenised Deposit Service is available to eligible HSBC corporate and institutional clients in the UAE, subject to approval, documentation, and onboarding requirements.
