HSBC Holdings plc announced the launch of its Tokenized Deposit Service in the United States, expanding the blockchain-based banking service to a fifth jurisdiction.

The service enables eligible corporate and institutional clients to transfer funds 24/7 using blockchain technology while maintaining traditional banking deposit structures. TDS combines bank deposits with blockchain-based payment rails for real-time, cross-border fund transfers.

"Our clients operate across markets, currencies, and time zones and are looking for faster, more transparent ways to manage liquidity and move money without adding operational complexity," said Tom Halpin, North America Lead, Global Payments Solutions, HSBC.

TDS is currently available in Hong Kong, Singapore, Luxembourg, the United Kingdom, and now the United States. The service supports multiple currencies including EUR, GBP, HKD, SGD, and USD.

The tokenized deposit system allows accelerated settlement within its network, provides 24/7 availability for domestic and cross-border transfers, and integrates with existing banking infrastructure. The service aims to reduce manual processing and provide real-time visibility into cash positions.

HSBC operates from offices in 56 countries and territories with assets of $3.233 trillion as of December 31, 2025. The bank continues to invest in digital asset infrastructure as part of its broader strategy to connect traditional financial systems with blockchain networks.

The service is subject to applicable approvals, documentation and onboarding requirements for eligible clients in the United States, according to the company's statement.