BNP Paribas and HSBC join Canton Foundation
BNP Paribas and HSBC have joined the Canton Foundation, the governing organization behind the Canton Network blockchain platform. These banking giants follow other major institutions including Goldman Sachs, Hong Kong FMI Services, and Moody’s Ratings. These companies joined earlier this year, bringing total membership to over 30 organizations.
The Canton Network launched in 2023 through a collaboration between Digital Asset and financial institutions. The platform provides specialized blockchain infrastructure for institutional use that protects privacy while allowing different systems to work together. It has already processed more than $3.6 trillion in tokenized assets, showing its ability to handle large institutional transactions.
The network aims to connect separate financial systems that currently operate independently. It combines the efficiency of blockchain technology with the privacy controls that regulated institutions require. This approach helps connect traditional finance with cryptocurrency systems, ultimately improving market liquidity and asset movement.
Network Governance and Security
The Canton Foundation manages the Global Synchronizer, which coordinates digital assets across approved blockchains within the network. This system enables different assets to work together while maintaining regulatory compliance and institutional trust. Furthermore, it provides a secure foundation for complex financial transactions using blockchain technology.
Industry Perspective and Future Development
John O’Neill, HSBC’s Group Head of Digital Assets and Currencies, emphasized the value of cooperative networks for expanding tokenized finance. He stated that digital asset markets need ecosystems with strong connections and market access to drive liquidity. O’Neill noted that joining the Canton Foundation will help HSBC support infrastructure for complex multi-asset transactions that ensure trust and transparency.
With BNP Paribas and HSBC now members, the Canton Foundation strengthens its position as a leading institutional blockchain alliance worldwide. This development accelerates the move toward regulated tokenized finance and shows growing institutional acceptance of blockchain technology. The expanding membership reflects increasing recognition that cooperative, regulated blockchain solutions can transform traditional financial systems while maintaining necessary safeguards and compliance standards. This growing partnership represents an important step in the evolution of institutional blockchain applications and their integration into mainstream financial services.
