BNP Paribas and HSBC joined the Canton Network, an authorized blockchain and focused on popular confidentiality with banks and large financial institutions.
Their addition comes after Goldman Sachs, the Hong Kong IMP services and the Moody’s notes joined in March. The Canton network welcomes more than 3.6 billions of dollars of tokenized assets, according to the Foundation. It works like an authorized blockchain with a “global synchronizer” which allows transactions and establishments to occur on different networks without compromising data control.
BNP Paribas said that the joint reflects its digital transformation strategy and its intention to collaborate on blockchain applications in customer services. HSBC has developed movement as a means of improving liquidity in digital asset markets and support transactions that extend over several assets.
The Canton Foundation has more than 30 members, including Broadridge, Tradeweb and Digital Asset. By uniting banks, Fintech companies and service providers under neutral governance, the Foundation aims to create infrastructure for token finance which reflects the trust and operational standards of traditional markets.
