HSBC Expands Orion Network to UAE, Enabling Real-Time Dirham Liquidity Flows

Regulatory Readiness Meets Market Demand

HSBC Bank Middle East Limited has launched a tokenized deposit service in the United Arab Emirates, introducing around-the-clock blockchain-based cash management for corporate clients and adding the dirham to a growing multicurrency digital network.

The new service allows eligible corporate and institutional clients to move funds instantly across borders and between internal treasury entities, integrating blockchain rails with traditional bank deposits. The network already supports euros, British pounds, U.S. dollars, Hong Kong dollars and Singapore dollars.

Mohamed Al Marzooqi, chief executive officer of HSBC UAE, said the rollout reflects both regulatory readiness and market demand.

“The introduction of tokenized 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,” Al Marzooqi said.

According to HSBC, the service is designed to streamline working capital by removing standard banking-hour constraints for internal transfers, reducing manual processes and providing real-time visibility into global cash positions.

The launch aligns with the UAE’s broader strategy to position itself as a regulated hub for digital finance and financial technology.

Kyle Boag, regional head of global payments solutions for HSBC Middle East, North Africa and Türkiye, said demand for real-time liquidity tools continues to rise.

“The demand for instant, secure, always-on liquidity solutions is only increasing as businesses seek to compete in a globalized and highly digitalised world,” Boag said.

Before expanding the service into the UAE, HSBC spent several years building out its digital asset infrastructure. The bank powered a $1.3 billion-equivalent multicurrency digital green bond issuance for Hong Kong, which was the largest digital bond offering of its kind at the time.

HSBC also facilitated the European Investment Bank’s first digital bond denominated in British pounds. Meanwhile, the U.K. government selected Orion, HSBC’s proprietary, institutional-grade blockchain platform, as the provider for its sovereign digital gilt instrument pilot program.

HSBC said the service is available immediately to eligible clients in the UAE, subject to regulatory approvals and standard onboarding.