Financial blockchain provider Digital Asset, in collaboration with major institutions including Goldman Sachs and BNY Mellon, has completed a pilot of its Canton Network, bringing together 22 distributed ledger applications across capital markets.
The pilot executed over 350 simulated transactions, demonstrating how an interconnected network of decentralised applications can facilitate secure, atomic transactions across the capital markets value chain. Participating firms gained access to applications covering asset tokenisation, fund registry, digital cash, repo, securities lending, and margin management.
Over four days, participants explored 22 applications, facilitating the exchange of tokenised securities, money market funds, and deposits. The results highlight the network's potential to reduce costs, risks, and inefficiencies while meeting regulatory standards for traditional asset tokenisation, transfer, and settlement.
The Canton Network's public-permissioned structure addresses previous challenges around data control and privacy while maintaining interoperability and regulatory compliance. Transaction validation is performed by a defined set of nodes, ensuring control over application performance while preserving privacy.
Participants included abrdn, BNP Paribas, Cboe Global Markets, Commerzbank, DTCC, Generali Investments, Nomura, Northern Trust, Standard Chartered, State Street, Visa, and Wellington Management, with Deloitte as observer and Microsoft as supporting partner.
Yuval Rooz, CEO and co-founder of Digital Asset, said the Canton Network allows previously siloed financial systems to connect and synchronise in previously impossible ways while remaining within current regulatory guardrails.