TL;DR
- BitGo integrated Canton Coin (CC) into its qualified cold storage custody services.
- The move seeks to facilitate access for U.S. banks and asset managers to the Canton network.
- Canton Network focuses on the interoperability of tokenized assets (RWAs) for institutions.
BitGo, the digital asset infrastructure company, recently announced the integration and custody support for Canton Coin (CC), the native token of the Canton Network.
This is a strategic move designed to make it easier for U.S. institutions, including banks and asset managers, to hold the asset through a qualified custodian, removing a key barrier to adoption.
The companies announced the integration this Wednesday, highlighting that the agreement will provide compliant access to a network that is already processing significant volumes of tokenized real-world assets (RWAs).
The partnership introduces institutional custody services for Canton Coin in cold storage and with insurance backing, which could pave the way for future support of stablecoins, tokenized securities, and other on-chain financial instruments within the ecosystem.
Melvis Langyintuo, executive director of the Canton Foundation, the non-profit entity that oversees the network, stated that the integration “represents a significant step toward institutional adoption of CC and support for the broader Canton ecosystem.”
Growing Interest Accelerates the Canton Ecosystem
Canton Network specializes in bringing regulated institutions onto blockchain technology, enabling interoperability between financial applications and tokenized assets, all while maintaining strict regulatory compliance.
Its sponsor, Digital Asset, recently raised $135 million from top-tier investors such as Goldman Sachs, Citadel Securities, BNP Paribas, and the Depository Trust & Clearing Corporation (DTCC).
BitGo, one of the largest custodians in the crypto industry with around $90 billion in assets under custody (AUC), is actively expanding its institutional services amid growing demand. The company has also filed for an initial public offering (IPO) in the United States.
The Canton Network ecosystem has experienced rapid acceleration since its launch in 2023. Major institutions like JPMorgan, Bank of America, and Citigroup have already joined.
More recently, P2P.org, a staking infrastructure provider managing over $10 billion in assets, and banking giants BNP Paribas and HSBC, joined the Canton Foundation. This growth coincides with the boom in RWAs, a central focus of Canton, whose total market value (excluding stablecoins) already exceeds $35 billion.
