HSBC: Treasurers Expect Tokenisation to Grow Fivefold, as They Take on Expanded Strategic Roles

Treasurers anticipate tokenisation, embedded payments and wallet-based solutions to increase fivefold over the next two years, as they embrace innovative payment models and digital assets in response to an evolving economic environment, according to new research by HSBC.

This growing adoption reflects the wider pressures on treasurers to balance efficiency, resilience and growth in an increasingly complex global landscape.

Launched today at SIBOS, HSBC’s 2025 Global Treasury Pulse Survey highlights how the role of treasurers is shifting from custodians of cash to strategic partners at the centre of corporate transformation.

Manish Kohli, Head of Global Payments Solutions at HSBC said: “Treasurers are no longer simply guardians of cash; they are becoming strategic leaders shaping the direction of their organisations. Digitisation, automation and real-time liquidity tools are transforming treasury into a growth enabler, unlocking efficiency, reducing risk and providing the agility businesses need to thrive. Technology is giving treasurers the platform to deliver at scale.”

The survey also introduces new data-led benchmarking capabilities, enabling treasurers from various sectors to compare performance across industries to identify best practices, sharpen their decision-making and accelerate transformation within their own organisations.

Treasury teams are increasingly adopting technology to meet rising business demands, with automation and centralisation unlocking significant efficiency gains. Nearly half of all respondents report operating with fewer than 10 full-time employees globally, however digitalisation can deliver efficiency improvements of up to 70%, freeing more than 140 hours per month to focus on strategic objectives rather than manual processes.

Businesses with higher levels of automation are almost twice as likely to generate cash positions in minutes and more than three times more likely to achieve over 90 percent cash visibility. Nearly half (46%) of highly automated firms can already produce cash positions in minutes, compared with only 24% of firms with low automation.

However, progress is being constrained by legacy systems – around 30% of treasurers still rely on spreadsheets for core functions, while upfront investment, integration complexity and security concerns were each cited by around 40% of respondents as barriers to adoption.

To help clients address these challenges, HSBC has launched its advanced On-Demand Cash Concentration (ODCC) solution. ODCC enables clients to optimise liquidity globally and in real time, without waiting for end-of-day sweeps, while providing greater flexibility and control over cash resources. Integrated into HSBC’s digital platforms, ODCC works seamlessly via Self-Service portal, with single sign-on to HSBCnet which fits within clients’ existing treasury infrastructure.

Earlier this year, HSBC also introduced a new Seven-Day Cash Concentration solution in the UAE and Egypt, giving treasurers the ability to automate in-country liquidity management every day, including weekends and holidays.

In addition, HSBC launched its new cross-border Tokenised Deposit Service (TDS), a blockchain-based solution that enables corporate clients to securely move multiple currencies in real time with instant settlement. Following the first USD cross-border transaction between Hong Kong and Singapore in September, HSBC is extending the service to domestic payments in the UK and Luxembourg, supporting GBP, EUR and USD transactions.

These innovations are designed to give treasurers enhanced visibility, agility and control, while demonstrating HSBC’s commitment to delivering advanced liquidity solutions for clients.

The full HSBC Treasury Pulse Survey report is available at Treasury Pulse Survey | Insights | HSBC