Fireblocks, a major crypto infrastructure provider, has incorporated the Canton Network, a privacy-enabled blockchain designed for regulated financial markets, into its system.
Due to this collaboration, financial institutions can now use Fireblocks to custody and settle assets on the Canton Network while benefiting from Fireblocks’ enterprise policy controls and workflow automation.
The Canton Network is increasingly becoming a platform of choice for institutions, with partners such as BitGo, Franklin Templeton, and the Depository Trust & Clearing Corporation (DTCC) having integrated their services.
Franklin Templeton’s Benji tokenization platform has now been linked to Canton, thus tokenized assets can be used as collateral.
The integration has made it possible for institutions to custody Canton Coin (CC) and, in addition, apply the policy controls they are already familiar with to the settlement of assets on the Canton Network.
Besides that, Fireblocks is running a Super Validator on the network, which means that it has a direct role in transaction validation and governance. DTCC intends to mint US Treasury securities on the network, thereby broadening the scope of potential use cases.
Also Read: Chainlink and Fireblocks Partner to Enhance Regulated Stablecoin Issuance
The market has responded with enthusiasm to the greater interaction of the Canton network with tokens. The price has increased by 31% in the last 3 months.
Introducing Fireblocks will undoubtedly be another significant move for the ecosystem as it will offer institutions a reliable and compliant way of doing regulated on-chain settlements.
When institutional investors become more interested in tokenized assets, such collaborations will be a key factor in the evolution of financial markets.
Also Read: JP Morgan Extends JPM Coin to Canton Network in Major Blockchain Expansion


