Canton Network’s activity is booming while the exchanges join Validators: Brass Research
Copper Research says that the use of the Canton Network, a blockchain built for regulated finance, has quietly moved, along with the Validator’s activity today including major US exchanges next to banks and infrastructure companies.
Only within a year after the launch, Canton reached a scale that was incompatible with the previous institutional blockchain, thanks to backing from Goldman Sachs (GS), HSBC (HSBC) and Broadridge (BR), the Crypto Custody Firm said in a Wednesday’s report.
The report noted that only broadridge processes more than $ 5.9 trillion monthly to tokenized US treasury repos to the network.
The exchanges along with Binance US, Crypto.com and Gemini (GEMI) also operate validators, while Kraken signed a possible Canton token list. Although no exchange of plans confirmed, Copper said the list had not yet occurred for a blockchain consent supported by major financial institutions.
Network activity also speeds up. Canton recorded more than 500,000 -day -day transactions by the end of September, more than the USDC and USDT shifts combined at the same time and approaching Ethereum volumes. Brass research emphasized that this activity was driven by live institutional applications, not pilots.
According to analysts, favorable regulation and focus on canton privacy, inappropriate design is suitable for shared institutional platforms.
Versana, supported by JPMorgan (JPM) and Wells Fargo (WFC), now has seven global banks sharing loan data syndicate, while Goldman Sachs’ DAP has supported tokenized bonds to issue.
The adoption of this institutional is what Canton sets, the report added.
Read more: Privacy-Focus Blockchain Canton’s chainlink selected to push institutional adoption
