HSBC Holdings Plc is planning to extend its tokenized deposit services to corporate clients within the United States and the United Arab Emirates, with a rollout expected by mid-2024. Currently, the bank offers these services in Hong Kong, Singapore, the UK, and Luxembourg, supporting transactions in Euros, Pounds, Dollars, Hong Kong Dollars, and Singapore dollars. Manish Kohli, HSBC’s Global Head of Payments Solutions, has highlighted the bank’s interest in exploring stablecoins as well. The institution is engaged in discussions with various stablecoin issuers for potential reserve management and settlement account services. HSBC hasn’t ruled out issuing stablecoins independently or in collaboration with other financial institutions in the future.