- HSBC piloted tokenized deposits on Canton with issuance, transfer, and atomic settlement.
- The test marked HSBC’s first public blockchain use of its Tokenized Deposit Service.
- CC rose over 4% to $0.1500, clearing $0.1491 while facing resistance at $0.1503.
HSBC has completed a pilot that simulated tokenized deposits on the Canton Network, linking a core banking payment function to digital asset settlement. The exercise covered issuance, transfer, and atomic settlement, while also testing interoperability across different settlement rails.
HSBC has completed a pilot of tokenised deposits on Canton.
The simulation included issuance, transfer, and atomic settlement of deposits against digital assets, with interoperability across settlement rails, extending coordinated settlement across cash and asset legs. pic.twitter.com/YPYHP8R1Rv
— Canton Network (@CantonNetwork) April 13, 2026
It marked the first time HSBC’s Tokenized Deposit Service was issued and used on a public blockchain. In simple terms, the bank tested whether digital cash can settle with digital assets in one synchronized process. The development arrived as Canton’s native token, CC, gained more than 4% in 24 hours and traded near $0.1500.
That move pushed the token above the 23.6% Fibonacci retracement near $0.1491, a level that had recently capped advances. Even after the rise, Canton’s price still sat just below the 50-day moving average at $0.1503. It also approached a descending resistance trendline, placing the token at a technically important point.
HSBC Moves Tokenized Deposits Onto a Public Blockchain
Within the pilot, HSBC simulated the transfer of tokenized deposits and their atomic settlement against other digital assets. The bank said the test showed tokenized deposits can be issued by HSBC and settled atomically on Canton.
It also examined how the network can connect to additional settlement rails when delivery-versus-payment settlement is required. That mattered as the pilot coordinated settlement across both cash and asset legs, rather than treating each side separately.
Consequently, HSBC presented the pilot as a milestone in its tokenization work rather than as a theoretical demonstration. The test also highlighted privacy-aware infrastructure, which remains important for regulated institutions operating across shared digital environments.
Why the Pilot Matters for Payments and Treasury
Notably, HSBC said its broader tokenized deposit service lets corporate clients convert fiat deposits into digital tokens on a 1:1 basis. Those tokens can then move instantly on HSBC’s ledger, supporting 24/7 settlement and programmable payments.
According to reports, the service supports USD, GBP, EUR, HKD, and SGD, giving the platform a multi-currency base. The bank also used the pilot to underline interoperability as a practical requirement for scaling digital financial markets.
Manish Kohli, head of Global Payments Solutions at HSBC, said the focus remains on a secure and interoperable infrastructure that meets regulatory expectations. Yuval Rooz, chief executive of Digital Asset, said tokenized deposits are gaining traction across capital markets, treasury, and corporate banking. He added that privacy, control, and interoperability are central to moving those deposits across institutions and applications.
CC Rallies 4%, but Resistance Levels Still Matter
On the market side, the CC token registered a fresh bullish push as buyers tried to reclaim short-term control. The rise above $0.1491 showed improving momentum, while RSI moved above the neutral 50 mark.
Canton’s price then pressed toward a descending resistance trendline that has weighed on action since the broader pullback began. The token also hovered just under the 50-day average near $0.1503, leaving two nearby barriers in view.
Canton (CC) 1-Day Price Chart (Source: TradingView)
Notably, the next marked resistance zone sits around $0.1540-$0.1580, identified on the chart as a support-resistance flip. Meanwhile, below the market, lower support is marked near $0.1381-$0.1349, giving traders a clear reference range.
Together, the day’s developments paired banking infrastructure progress with a measurable market response. The pilot delivered a real institutional use case, while the token’s chart reflected a 24-hour gain with clearly defined technical levels.
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