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Goldman Sachs, BNY Mellon and Others Test Enterprise Blockchain for Tokenized Assets
The Canton pilot allowed 15 asset managers, 13 banks, four custodians and three exchanges to seamlessly transact and settle tokenized assets.
Updated Mar 12, 2024, 4:20 p.m. Published Mar 12, 2024, 4:19 p.m.
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Bluechip financial blockchain provider Digital Asset has completed a test of its so-called Canton Network, with the participation of financial heavyweights like Goldman Sachs, BNY Mellon, DRW, Oliver Wyman, and Paxos.
The Canton pilot, which involved 15 asset managers, 13 banks, four custodians and three exchanges, allowed the firms to seamlessly transact and settle tokenized assets and deal with fund registry, digital cash, repo, securities lending, and margin management transactions, according to a press release on Tuesday.
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"The successful execution of over 350 simulated transactions proved how a network of interoperable applications can seamlessly connect to enable secure, atomic transactions across multiple parts of the capital markets value chain," the firm said. "It also demonstrated the potential benefits of using such a network to reduce counterparty and settlement risk, optimize capital, and enable intraday margin cycles," the statement added.
The interest in the world of enterprise blockchain, where large firms look for efficiencies to be gained from using private or permissioned versions of the technology underlying public networks like Bitcoin and Ethereum, is being driven by a renewed focus on tokenization: the realization of existing financial assets as blockchain-based tokens.
“Canton allows previously siloed financial systems to connect and synchronize in previously impossible ways while abiding by the current regulatory guardrails,” said Digital Asset CEO Yuval Rooz in the statement.
Additional pilot participants included: abrdn, Baymarkets, BNP Paribas, BOK Financial, Cboe Global Markets, Commerzbank, DTCC, Fiùtur, Generali Investments, Harvest Fund Management, IEX, Nomura, Northern Trust, Pirum, Standard Chartered, State Street, Visa, and Wellington Management with Deloitte acting as an observer, and Microsoft as a supporting partner.
Read more: What Is an Enterprise Blockchain?
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KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
Ano ang dapat malaman:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
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R3 bets on Solana to bring institutional yield onchain
As DeFi investors seek stable, uncorrelated returns, R3 is building Solana-native structures to bring private credit and trade finance into crypto markets.
Ano ang dapat malaman:
- R3 has repositioned itself around tokenization and onchain capital markets, with Solana as its strategic base.
- The firm is targeting high-yield, institutional assets like private credit and trade finance, packaged in DeFi-native structures.
- Liquidity, not tokenization itself, is the next unlock for real-world assets onchain, according to R3 co-founder Todd MacDonald.
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