BitGo is deepening its involvement with the Canton Network, positioning itself as the only regulated custodian operating on the private, permissioned ledger for institutions. The firm now offers custody for Canton Coin (CC), the network’s native token, along with support for the CIP-56 token standard and electronic trading and settlement through its Go Network.
Custody and token support
On October 29, 2025, BitGo became the first US-based qualified custodian to offer custody for Canton Coin, backed by up to $250 million in institutional insurance coverage. In March 2026, the firm expanded its offering to include the CIP-56 token standard, which covers assets issued on Canton under a shared set of rules.
Two tokens stand out in that expansion: USDCx, a stablecoin backed by USDC, and cBTC, a wrapped version of Bitcoin built to move on Canton. The March update also introduced electronic trading and settlement through BitGo’s Go Network, allowing institutions holding assets with BitGo to trade and settle without moving those assets out of custody first.
On the technical side, BitGo has integrated signing support for Canton transactions using its MPC TSS custodial wallets. MPC (multi-party computation) and TSS (threshold signature scheme) ensure that no single party ever holds the whole key, so approving a transaction requires several participants to cooperate.
Why Canton is built differently
The Canton Network launched its public synchronizer and native token CC in July 2024 and is governed by the Canton Foundation. It is described as a public, permissionless blockchain tailored to regulated finance, with selective disclosure and atomic cross-application settlement as its signature features. Selective disclosure means participants only see the data they are entitled to see, while atomic settlement means both sides of a trade complete at once or neither does.
Goldman Sachs, DTCC, and BNY Mellon are among the entities involved in Canton Network initiatives. The network has reported more than $6 trillion in on-chain assets and daily repo volumes of up to $280 billion.
What this means for institutions and the custody race
Custody is the gatekeeper for institutional participation. A pension fund or asset manager generally cannot hold a token unless a regulated custodian can hold it for them. If BitGo is, as it says, the only regulated custodian on Canton, it sits at a choke point that every new institutional entrant has to pass through.
The token lineup matters too. Supporting Canton Coin alone would have limited appeal, since a native token is mostly useful for operating the network. Adding a USDC-backed stablecoin and a wrapped Bitcoin gives institutions two assets they already understand: dollars and Bitcoin.
The trading and Go Network settlement features push BitGo beyond pure storage, keeping both custody and movement of assets under one roof.
The network’s headline figures, including the more than $6 trillion in on-chain assets, are reported by Canton itself. How much of that activity flows through crypto-native custodians like BitGo, versus staying inside the institutions’ own systems, is a different measure.
