BitGo Adds Custody for Canton Coin, Potentially Easing US Institutional Access

• BitGo integrates Canton Coin custody to support institutional adoption of the Canton Network’s ecosystem.

• The partnership provides banks and asset managers with secure, compliant storage for the CC token.

• Canton Network processes significant volumes of tokenized RWAs, with the total value exceeding $35 billion excluding stablecoins, according to RWA.xyz data.

Discover how BitGo’s new custody for Canton Coin empowers US institutions with secure RWA access. Explore the partnership’s impact on blockchain adoption today.

What is BitGo’s New Custody Support for Canton Coin?

BitGo’s custody support for Canton Coin allows regulated institutions in the United States to securely hold the native token of the Canton Network. This integration, announced by digital asset infrastructure provider BitGo and the Canton Foundation, introduces cold-storage custody and insurance-backed security for Canton Coin (CC). It aims to simplify compliant access for banks and asset managers to a network handling substantial tokenized real-world assets (RWAs), potentially expanding to stablecoins and other onchain instruments in the future.

Source: James Seyffart

This development underscores BitGo’s role as a leading custodian managing approximately $90 billion in assets. The company has recently filed for an initial public offering in the United States, signaling its growth in regulated digital-asset services. By supporting Canton Coin, BitGo bridges traditional finance with blockchain technology, enabling institutions to participate in innovative financial ecosystems without compromising on compliance.

The Canton Network, governed by the nonprofit Canton Foundation, emphasizes interoperability between financial applications and tokenized assets. Its backer, Digital Asset, secured $135 million in funding from prominent investors including Goldman Sachs, Citadel Securities, BNP Paribas, and the Depository Trust & Clearing Corporation (DTCC). This financial backing highlights the network’s credibility and potential to drive institutional blockchain adoption.

How Does This Integration Benefit Institutional Adoption?

The integration of Canton Coin into BitGo’s custody solutions represents a pivotal advancement for the Canton ecosystem. Melvis Langyintuo, executive director of the Canton Foundation, stated, “This represents a significant step toward institutional adoption of CC and support for the broader Canton ecosystem.” It provides regulated entities with the infrastructure needed to custody digital assets securely, addressing key regulatory concerns in the US market.

Supporting data from industry analyses shows the Canton Network’s rapid growth since its 2023 launch. Institutions like Goldman Sachs, JPMorgan, Bank of America, and Citigroup have joined, alongside staking provider P2P.org, which manages over $10 billion in assets. Recent additions include BNP Paribas and HSBC to the Canton Foundation, further bolstering its mission to advance blockchain for institutional needs.

The focus on RWAs is central, with tokenized assets excluding stablecoins surpassing $35 billion in value. Use cases include private credit, US Treasury debt, private equity, and equities, demonstrating practical applications that align with regulatory frameworks. This custody support could accelerate transactions on the network, which already processes high volumes of these assets, fostering greater efficiency in capital markets.

Experts note that such partnerships enhance trust and reduce barriers to entry. For instance, the combination of BitGo’s robust security—proven through its handling of billions in assets—and Canton’s compliance-oriented design creates a synergistic effect. Industry reports from sources like RWA.xyz emphasize how tokenized RWAs are transforming traditional finance, with projections indicating continued exponential growth as more custodians like BitGo enter the space.

Related: Canton Network taps Chainlink as super validator, integrates oracles and CCIP.

Frequently Asked Questions

What Does BitGo’s Canton Coin Custody Mean for US Regulated Institutions?

BitGo’s custody support enables US regulated institutions to hold Canton Coin securely through qualified custodians, ensuring compliance with federal regulations. This service includes cold storage and insurance, allowing banks and asset managers to access the Canton Network’s tokenized RWAs without direct exposure to operational risks, in about 45 words of clear guidance.

How Is the Canton Network Advancing Institutional Blockchain Use?

The Canton Network brings regulated institutions onchain by enabling secure interoperability for financial applications and tokenized assets. With governance from the Canton Foundation and backing from major players like Goldman Sachs and DTCC, it processes significant RWA volumes, making blockchain practical for everyday institutional finance in a compliant manner.

Key Takeaways

• Secure Custody for Institutions: BitGo’s integration offers cold storage and insurance for Canton Coin, simplifying US compliance for holding CC tokens.
• Growing RWA Market: Tokenized RWAs have exceeded $35 billion in value, with Canton’s network leading in institutional-grade applications across credit and equities.
• Path to Broader Adoption: This partnership paves the way for future support of stablecoins and securities, encouraging more institutions to explore onchain finance.

Total RWA market value, excluding stablecoins. Source: RWA.xyz

Conclusion

BitGo’s new custody support for Canton Coin marks a crucial milestone in bridging regulated institutions with the Canton Network’s innovative blockchain ecosystem. By providing secure, compliant access to Canton Coin and tokenized RWAs valued at over $35 billion, this partnership enhances institutional participation in digital assets. As the sector evolves, expect further integrations that drive efficiency and interoperability in global finance—stay informed to capitalize on these opportunities.

Institutional Participation in the Canton Network Accelerates

The Canton Network’s momentum has built steadily since its 2023 inception, attracting a roster of heavyweight financial players. P2P.org’s recent entry, managing more than $10 billion in staking assets, complements the involvement of giants like Goldman Sachs, JPMorgan, Bank of America, and Citigroup. These institutions are leveraging the network’s privacy-preserving technology to handle tokenized assets in a controlled environment.

BNP Paribas and HSBC’s addition to the Canton Foundation underscores a global push toward blockchain solutions tailored for traditional finance. The foundation’s nonprofit structure ensures neutral governance, focusing on standards that prioritize compliance and scalability. This aligns with broader industry trends where tokenized RWAs are gaining traction, offering benefits like fractional ownership, faster settlements, and reduced intermediaries.

BitGo’s expansion into Canton Coin custody fits within its broader strategy to serve institutional clients amid rising demand for digital-asset infrastructure. With $90 billion under custody, BitGo demonstrates reliability through its track record in security and regulatory adherence. The company’s IPO filing further positions it as a key player in the maturing crypto custody market.

Looking at the RWA landscape, the $35 billion milestone excludes stablecoins and highlights diverse applications. Private credit tokenization, for example, allows for more liquid markets in illiquid assets, while US Treasury tokens enable efficient collateral management. Canton’s interoperability features—allowing assets to move seamlessly across networks—set it apart, addressing a core challenge in blockchain fragmentation.

Expert insights from financial analysts emphasize the role of custodians like BitGo in de-risking adoption. As one industry observer noted, “Qualified custody is the gateway for institutions to confidently engage with tokens like Canton Coin, ensuring assets are protected against hacks and operational failures.” This integration not only supports current CC holdings but also lays groundwork for expanded services in tokenized securities and stablecoins.

The partnership’s announcement on Wednesday highlights timely alignment with market dynamics. With Digital Asset’s recent $135 million raise, the Canton ecosystem gains additional resources for development. Investors such as Citadel Securities and DTCC bring deep expertise in clearing and settlement, reinforcing the network’s focus on real-world financial utility.

In summary, BitGo’s custody for Canton Coin is more than a technical addition—it’s a catalyst for institutional blockchain integration. By combining secure storage with Canton’s compliant architecture, it empowers entities to navigate the digital asset space effectively. As RWAs continue to proliferate, this collaboration exemplifies how crypto infrastructure is evolving to meet the needs of regulated finance.