Uber Tests Tokenized Money Funds to Unlock 24/7 Trading Yield

The ride-sharing giant used a tokenized money market fund to earn 1.5 days more yield on its investment by selling the assets on Sunday rather than Friday, as institutions traditionally do. Franklin Templeton, HSBC Holdings, and Fireblocks collaborated in this test. Companies are turning to blockchain and tokenized assets to boost profits by taking advantage of 24/7 trading. Uber, a public ride-hailing app with a market capitalization of over $130 billion, has announced it leveraged tokenized investment opportunities in a recent investment test. Using blockchain, the company purchased a Franklin Templeton-tokenized money market fund on Tuesday and sold it on a Sunday.

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