BNP Paribas and HSBC have joined the Canton Networka permission and privacy-centric blockchain popular with banks and large financial institutions.
Their addition came after Goldman Sachs, Hong Kong FMI Services and Moody’s ratings joined in March. The Canton Network has raised more than $ 3.6 trillion on tokenized assets, according to the foundation. It acts as a blockchain permission with a “global synchronizer” that provides trading and organizing to occur on different networks without compromising data control.
The BNP Paribas said joining reflects the approach to digital transformation and intent to cooperate with blockchain applications with client services. HSBC has confirmed the move as a way to improve liquidity in digital asset markets and support transactions that cover many possessions.
The Canton Foundation counts more than 30 members, including broadridge, tradeweb and digital assets. By uniting banks, fintech firms and service providers under neutral management, the foundation aims to create infrastructure for tokenized finance that reflects the standards of trust and operation of traditional markets.
