Dubai: HSBC has launched its Tokenised Deposit Service in the UAE, giving eligible corporate and institutional clients a new way to move money instantly across domestic and cross-border accounts.The service allows companies to transfer funds 24 hours a day, seven days a week, using blockchain-based rails while keeping the structure of a traditional bank deposit. The launch brings the UAE dirham into HSBC’s tokenised deposit network, which already supports euros, pound sterling, US dollars, Hong Kong dollars and Singapore dollars.Always-on treasury toolsThe move is aimed at large businesses with treasury operations spread across markets, where cash often needs to be shifted quickly between headquarters, regional centres and subsidiaries.Through the Tokenised Deposit Service, clients can move funds on-chain within HSBC’s network, giving companies faster settlement, better visibility over cash positions and more efficient working capital management.The bank said the service is designed to work with existing banking and treasury systems, which means companies do not need to move away from their core banking infrastructure to use it.“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 tokensied deposits to the UAE is a reflection of the maturity of the local regulatory environment when it comes to digital finance and the genuine demand from corporates operating in and through this market for more capable treasury tools.”UAE dirham joins global networkThe inclusion of the UAE dirham expands HSBC’s tokenised deposit network into the Gulf, linking the currency to major global financial markets and the trade flows that pass through the UAE.The service can help reduce manual processing, support straight-through payments and improve decision-making by giving treasury teams a clearer view of liquidity in real time.“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 launch is part of its broader digital asset strategy, which focuses on building an interoperable money layer between traditional financial infrastructure and emerging digital networks.The bank said this could support several 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 approvals, documentation and onboarding requirements.Nivetha Dayanand is Assistant Business Editor at Gulf News, where she spends her days unpacking money, markets, aviation, and the big shifts shaping life in the Gulf. Before returning to Gulf News, she launched Finance Middle East, complete with a podcast and video series.