Corporate Treasuries Move Cash Onchain for Weekend Yield as Tether’s Cushion Nearly Doubles
Focus of the Day
Corporate treasury cash is turning “weekend yield” into an onchain reality: Uber joined an HSBC and Franklin Templeton pilot to buy a tokenized money-market fund via HSBC tokenized deposits, capturing roughly 1.5 days of extra return while markets are closed. Tether’s excess reserves nearly doubled to $7.95B in Q3 with $132.4B in US Treasury exposure, as stablecoin issuers keep moving toward bank-grade balance sheets. The industry’s revenue engine is shifting from infrastructure rents to economic applications, with tokenized stocks taking 55% of perpetual volume — surpassing gold for the first time.
Industry Wire
10 items
Uber Pilots Weekend Yield as Tokenized Deposits Capture 1.5 Extra Days — HSBC and Franklin Templeton lead a pilot in which Uber buys a tokenized money-market fund via HSBC tokenized deposits on Canton Network, buying Thursday and selling Sunday to fill the gap between Friday’s close and Monday’s open
Tether Q3 Excess Reserves Nearly Double to $7.95B — Net operating profit of $1.5B, $132.4B in US Treasury exposure, roughly $191.5B in total assets, and USDT users topping 700M, as reserve transparency moves toward bank grade
NEAR Integrates Ondo’s Tokenized Stocks and ETFs — The 1Click Swap API brings RWA products to NEAR’s application layer; the news drove NEAR up 3.8% in 32 hours and about 5.6% in 24 hours, independent of the broader market
1KX: Tokenized Stocks Take 55% of Perpetual Volume, Surpassing Gold — Blockchain revenue falls about 30% to $100B in 2026, but institutional adoption and RWA account for 30% of revenue, with Robinhood Chain tokenized stock volume topping $13B in Q3
Latvia Plans RWA Tokenization Rules by H1 2027 — Commercial real estate could be the first application, with government bonds also prioritized; the economy ministry is drafting a framework with the central bank and finance ministry
Shopify Integrates USDC Payments via Base — Stablecoin payments move from trading desks to everyday e-commerce, with businesses involved in roughly 60% of stablecoin transfers
RWA Market Hits $46.3B as Ethereum Continues to Lead — RWA.xyz shows $39.56B in distributed asset value; Ethereum dominates tokenized funds as institutional capital keeps concentrating on top chains
DBS Survey: 88% of Large Firms Deploy or Pilot Tokenized Money — Surveying 422 finance leaders, stablecoins lead at 63% adoption, tokenized deposits at 53% and tokenized money-market funds at 52%, as treasuries rewrite liquidity rails
Solana Leads RWA Inflows — Institutional and retail capital keeps shifting to the Solana ecosystem, with tokenized assets posting the top weekly inflows across chains as chain abstraction plus RWA narratives heat up
Prediction Markets Grow from Near Zero to About $4B Annualized Revenue — 1KX reports economic adoption revenue rose $2.9B in H1 2026 and overtook infrastructure revenue in Q3 for the first time, with user-paid transaction fees under 3% of total revenue
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