Digital Assets: The Canton Network, A Blockchain For Financial Markets, Launched May 9

May 10, 2023 | Digital Assets, News

Canton Network participants will begin testing interoperability capabilities and use cases in July.

Digital Asset, in collaboration with major financial market participants and industry partners, has announced the launch of the Canton Network, a privacy-enabled interoperable blockchain network for institutional assets. The Canton Network creates a “network of networks” that enables previously siloed systems in finance to interoperate, leading to new efficiencies and innovation in the industry.

The network connects independent applications built with Digital Asset’s smart-contract language, Daml, with appropriate governance, privacy, permissioning, and controls required for regulated industries. The network offers a safer and reconciliation-free environment for assets, data, and cash to synchronize freely across applications, providing opportunities for financial institutions to offer new innovative products while enhancing efficiency and risk management. (Businesswire)

The Canton Network’s unique features balance the decentralization of a network with privacy and control, making it suitable for a safe and sound regulatory environment. Unlike other smart contract blockchain networks that have not achieved meaningful adoption due to privacy, control, and scalability shortcomings, the Canton Network removes these obstacles.

According to Canton, financial institutions will get a safer and reconciliation-free environment where assets, data, and cash can synchronize freely across applications.

“For example, asset registers and cash payment systems are distinct and siloed systems in today’s markets,” Canton said in a statement. “With the Canton Network, a digital bond and a digital payment can be composed across two separate applications into a single atomic transaction, guaranteeing simultaneous exchange without operational risk.”

Financial institutions can connect innovative blockchain solutions, such as Deutsche Börse Group’s D7 post-trade platform and Goldman Sachs’ GS DAP, while retaining privacy and permissioning.

Canton Network participants include ASX, BNP Paribas, Broadridge, Capgemini, Cboe Global Markets, Deloitte, Deutsche Börse Group, Goldman Sachs, Microsoft, Moody’s, Paxos, and S&P Global.

Canton Network participants will begin testing interoperability capabilities across a range of applications and use cases in July.

Related Story:  Paxos’ Blockchain Conducts The First-Ever, Same Day (“T+0”) Equity Settlement

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Latest Alternative Investment News
FinTech: Klarna’s All-In Efforts To Achieve Profitability Getting Traction
May 26, 2023     FinTech, News

Swedish fintech company Klarna achieved a significant improvement in its financial performance during the first quarter, as it halved its net loss compared to the same period last year. The…
Alternative Investments/AI: Euclidean Technologies Launches ETF For AI-Selected Value Stocks

Seattle-based investment advisor Euclidean Technologies Management has launched its first exchange-traded fund (ETF), the Euclidean Fundamental Value ETF (ECML US). The actively managed US equity fund utilizes artificial intelligence (AI)…
Venture Capital: Matrix Partners Raises $550M For Its Fourth India Fund
May 26, 2023     News, Venture Capital

Matrix Partners India, a venture capital firm focused on investments in India, has announced the closure of its latest fund, securing over $550 million in commitments. This new fund from…
Artificial Intelligence: AI Helps Researchers Find A Compound To Kill The Drug-Resistant A. baumannii Bacterium

Scientists at MIT and McMaster University have used artificial intelligence (AI) to identify a new antibiotic that can combat drug-resistant infections caused by Acinetobacter baumannii. The bacterium is commonly found…