BNP Paribas and HSBC Join Canton Network for Tokenized Finance
BNP Paribas and HSBC have joined the Canton Network, a blockchain focused on privacy and permissioned access, favored by banks and financial institutions.
- Goldman Sachs, Hong Kong FMI Services, and Moody’s Ratings joined in March.
- The Canton Network manages over $3.6 trillion in tokenized assets.
- It features a “Global Synchronizer” for trade and settlement across networks while maintaining data control.
- BNP Paribas aims to enhance its digital transformation and blockchain applications.
- HSBC seeks to improve liquidity in digital asset markets and support multi-asset transactions.
- The Canton Foundation has over 30 members, including Broadridge and Tradeweb, promoting infrastructure for tokenized finance aligned with traditional market standards.