Canton Network is a layer-1 blockchain developed by Digital Asset, a New York company founded in 2014. Launched in May 2023 with a pilot group including Goldman Sachs, Deloitte and Microsoft, Canton went live with its public infrastructure in July 2024.
The network addresses a fundamental challenge for financial institutions: most blockchains display every transaction and balance publicly, but banks, asset managers and clearinghouses require privacy to protect trading positions, client data and competitive information. Canton solves this through sub-transaction privacy, sharing data only with parties directly involved in each transaction.
How Canton Works
Canton operates as a "network of networks" rather than a single ledger. Each institution runs its own validator node storing only data relevant to it. These nodes connect through the Global Synchronizer, enabling assets and transactions to move between them atomically—trades either settle fully on all sides or not at all.
Smart contracts on Canton are written in Daml, Digital Asset's open-source contract language, which specifies exactly which parties are signatories and observers on each contract. When a transaction runs, each participant's node receives only the parts it is involved in. According to CantonScan data, approximately 79 percent of updates recorded on Canton in a 24-hour period in November 2026 were private.
The network is governed by the Global Synchronizer Foundation, an independent body hosted by the Linux Foundation, with a group of "Super Validators" operating the Global Synchronizer.
Institutional Adoption
Canton has attracted major names from traditional finance. The Depository Trust & Clearing Corporation launched its tokenization service commercially on October 28, 2026, starting with 25 securities including Russell 1000 stocks, major ETFs and Treasuries. The service runs on both Canton and DTCC's private Besu network.
In October 2026, trading firms DRW and Marex executed what was described as the first OTC derivative referencing a fully tokenized index on the network. Visa joined as a Super Validator in March 2026, Franklin Templeton in August 2026, and the London Stock Exchange Group in September 2026. South Korea's Shinhan Asset Management became the first Korean financial institution approved as a Super Validator that same month.
Canton recorded more than $155 million in network fees in the third quarter of 2026, according to blockchain security firm CertiK, representing what users paid to use the network.
Applications on Canton
- Broadridge's distributed ledger repo platform settles large volumes of intraday repo trades
- DTCC's Tokenization Service converts DTC-custodied securities into tokens transferable 24/7
- Franklin Templeton's Benji provides tokenized fund services
- J.P. Morgan's Kinexys plans to issue JPM Coin deposit tokens natively on Canton throughout 2026
- World Liberty Financial launched its USD1 stablecoin on Canton in August 2026
- Ekiden operates as an order book-based derivatives exchange
- Cantex functions as Canton's native decentralized exchange
Canton Coin Token
Canton Coin (CC) is the native utility token of the Global Synchronizer. Users pay network fees by burning CC, while new CC is minted as rewards for validators, Super Validators and app builders generating activity on the network. This structure is called a burn-mint equilibrium.
CC had no pre-mine and no allocations to venture capital investors. As of November 2026, the network was burning roughly 80 percent as much CC daily as it minted, according to CantonScan data. Circulating supply stood at just over 40 billion CC.
In November 2026, SEC staff granted Canton no-action relief, stating they view Canton Coin as a digital commodity and would not recommend enforcement over how it is minted. In May 2026, 21Shares launched the first U.S. ETF offering direct exposure to CC.
CC trades on major centralized exchanges including Kraken, Bybit and OKX, with perpetual futures available on Binance Futures. Onchain swaps are available through Cantex on Canton itself.
Future Developments
Canton's next phase involves moving from pilots to full production use. DTCC's service is now live, with its roadmap including onchain settlement, collateral management and digital cash. Derivnex and its partners plan to bring cash settlement and collateral management for derivatives directly onto Canton.
Expansion in Asia is accelerating, with Shinhan Financial Group, Hanwha Investment & Securities, LG CNS and Meritz Securities signing Canton deals. However, DTCC plans to connect its tokenization service to Stellar, Circle's Arc and Solana in 2027.
