The chainlink is integrated into the Canton Network, an institutional blockchain supported by global banks and technology companies, in a step aimed at strengthening the institutional adoption of blockchain technology.
Collaboration, announced Wednesday, carries chainlink data service, including this Data Streams, Smartdata (proof of reserve and navlink) and the cross-chain interoperability protocol (CCIP) to the Canton Network. The network also joined the chainlink scale programhelping to occupy Oracle operating costs.
As part of the agreement, the chainlink labs will be a Canton network “Super Validator.” A super validator is a combined node that runs a domain validator and a canton synchronizer node. It participates in the global synchronizer to order and finish cross-domain transactions, providing consensus and interoperability throughout the network.
Yuval Rooz, CEO of the Canton Network Developer Digital Asset, said, “Chainlink not only strengthened our management and stability, but also expanded opportunities for innovators throughout the traditional and decentralized finances.”
Chainlink co-founder Sergey Nazarov said he expects the cooperation to enable “large-scale real-world use cases” combined with the traditional and decentralized capital market.
Launched in May 2023, the Canton Network was an institutional blockchain designed as an institutional blockchain to support tokenization and large -scale financial activity. It was built using the backing of Tech Behemoth Microsoft, Finance Heavyweights Goldman Sachs, BNP Paribas and CBOE Global Markets, and Crypto Natives Digital Assets and Paxos.
The governing body of the network, formerly known as the Global Synchronizer Foundation, was recently rebranded as the Canton Foundation. The foundation includes major validators such as chainlink.
“This is just a change in the name, designed to better demonstrate our goal and help the community connect the work of the foundation more directly to the Canton network.”
Related: HSBC, BNP Paribas Back Canton Foundation on Institutional Tokenization Push
Growing Institutional Blockchain
In the long list of influential partners, the Canton network has seen significant growth since its launch. According to the announcement, Canton is now supporting more than $ 6 trillion on the onchain real-world assets, processing $ 280 billion re-purchase agreements daily and supported by a network of 500 validator and over 30 super validator.
The news follows recent reports that P2P.org has become a validator in the canton network. Earlier this month, the network also Attracted supporting major global banks BNP Paribas and HSBCBoth joined the Canton Foundation.
Related: Blackrock weighs ETF tokenization as JPMorgan Flags Industry Shift: Report
Integration comes as global financial institutions that will accelerate blockchain initiatives. This week, the ripple and the tokenization platform are secure Ripple USD (RLUSD) Stablecoin as an off-ramp For tokenized funds of major crypto investment companies Blackrock and Vaneck.
Other developments this week include London-based The fnality that gained $ 136 million from supporters including the Bank of America, Citi, and Temasek, and the central bank of Kazakhstan The pilot of a backed stablecoin With Solana and Mastercard.
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