What is Canton?
Canton is a public blockchain network built for banks, exchanges and asset managers. Its defining idea: only the parties to a transaction can see that transaction. Canton Coin (CC) is the token that pays for and rewards the shared infrastructure.
Canton Coin
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Canton has no single global ledger. Each institution stores only the contracts it is a party to.
Canton in 60 seconds
The short version, before the detail.
A network of networks
Many separate ledgers, each run by an institution or app, that can transact with each other as if they were one system.
Privacy by default
Banks cannot put client positions on a ledger everyone can read. On Canton, data goes only to the parties who need it.
Built by Digital Asset
A New York company founded in 2014. The shared layer is now governed by the Canton Foundation and run by dozens of firms.
Canton Coin (CC)
Burned to pay network fees, minted to reward the operators and apps that make the network useful. No pre-mine.
Most blockchains work like a public noticeboard: every node holds a copy of every transaction. That is good for open verification and bad for a bank, which is legally and commercially barred from showing the world its clients' trades. Private "enterprise" chains fixed the privacy problem but created islands that could not talk to each other.
Canton tries to get both. Each participant keeps its own records. When a transaction touches several parties, the Canton protocol splits it into pieces and sends each party only its piece, encrypted. A shared service called a synchronizer puts the encrypted messages in order and confirms that everyone agreed, without reading the contents. The public, decentralised version of that service is the Global Synchronizer, live since July 2024.
Smart contracts are written in Daml, a language designed around rights and obligations: who may see a contract, who may act on it. Because of that, two apps built by different companies, such as a tokenised bond registry and a bank's digital cash, can settle against each other in one all-or-nothing step.
The network's early use is institutional plumbing: repo financing, tokenised Treasuries and money-market funds, collateral, deposit tokens and stablecoins. Since late 2025 Canton Coin has also traded on public exchanges, which brought the project to the attention of ordinary crypto users, along with a loud argument about whether a network like this counts as "decentralised".
Deep diveIs Canton public or private? Permissioned or permissionless?
Both labels get used, and both are partly right. The network is public in the sense that the Global Synchronizer is open infrastructure: the software is open source, anyone can read governance proposals, and any organisation can apply to run a validator and connect apps. The data is private: there is no explorer where you can read other people's transactions.
Joining is not as open as Ethereum or Bitcoin. A new validator needs sponsorship from a Super Validator, and new Super Validators must be approved by a two-thirds vote of the existing ones. Critics call that permissioned. Digital Asset argues that admission by merit is no worse than admission by capital. We cover the debate in Risks and criticisms.
From a 2014 start-up to Wall Street's ledger
Canton did not appear overnight. It is the product of a decade of work, including one very public failure.
Digital Asset was founded in New York in October 2014 by Sunil Hirani, Don Wilson, Yuval Rooz, Shaul Kfir and Eric Saraniecki. Several of them came from the trading firm DRW. The idea was simple to state and hard to do: use distributed-ledger technology to cut the days of reconciliation that sit behind every securities trade.
In March 2015 the company hired Blythe Masters, a well-known former J.P. Morgan executive, as chief executive. Her arrival gave the young firm unusual credibility with banks. Under Masters, Digital Asset bought several start-ups, including a small San Francisco company called Hyperledger, whose name it later contributed to the Linux Foundation's open-source project, and Elevence, a Zurich team whose contract-modelling language became Daml.
The Blythe Masters era
Masters led the company from 2015 until she stepped down in December 2018. The period brought big-name investors, a $40 million round reported in October 2017, and the headline contract of the era: replacing the Australian Securities Exchange's CHESS clearing system.
The ASX CHESS saga
ASX chose Digital Asset to rebuild CHESS on distributed-ledger technology. After repeated delays, ASX paused and then abandoned the project in November 2022, writing off about A$250 million. It remains the most-cited cautionary tale about Digital Asset. ASX later sold its stake in the company for a reported A$57 million.
Daml goes open source
Yuval Rooz became chief executive in March 2019. Weeks later the company open-sourced Daml, shifting from building bespoke systems to providing a language and platform that others build on.
Canton, the protocol
Engineers led by the Zurich research team designed the Canton protocol to let separate Daml ledgers interoperate with privacy. Goldman Sachs chose Daml for its digital asset platform in 2021, and Broadridge's repo platform went live on the technology the same year.
The pieces came together in May 2023, when Digital Asset and roughly 30 institutions announced the Canton Network. Named participants included Goldman Sachs, BNP Paribas, Deutsche Börse, Cboe, Broadridge, Moody's, Paxos, Microsoft, Deloitte and Capgemini. The pitch: connect the Daml applications that already existed inside those firms into one interoperable network.
In July 2024 the missing public piece arrived. The Linux Foundation announced the Global Synchronizer Foundation, and the Global Synchronizer and Canton Coin went live. For the first time there was shared, neutral infrastructure that no single company operated. The foundation was renamed the Canton Foundation in September 2025.
Deep diveWhat actually went wrong at ASX, and does it matter today?
ASX set out to replace a 1990s clearing and settlement system for the whole Australian equity market in one programme. An independent review commissioned by ASX in 2022 found significant problems with the design and delivery of the replacement, and ASX's new management stopped the project. Australia's securities regulator later took court action against ASX over statements it had made about the project's progress.
What it means for Canton is debated. Critics see evidence that the technology struggles at national-market scale. Supporters point out that the CHESS replacement predates the Canton protocol as deployed today, that it was a single monolithic system rather than a network, and that live applications such as Broadridge's repo platform have since processed very large volumes. Both points can be true. It is reasonable to treat ASX as a lesson in project risk rather than proof for or against the current network.
Deep diveWho has funded Digital Asset?
Reported rounds include $40 million in 2017, a Series C in 2019–2020 and $120 million in 2021. In June 2025 the company raised $135 million in a round co-led by DRW Venture Capital and Tradeweb Markets, with Goldman Sachs, BNP Paribas, Citadel Securities and others participating. In December 2025 it added a strategic investment, reported at about $50 million, from BNY, Nasdaq, S&P Global and iCapital. Press coverage of the December round also names YZi Labs among earlier backers.
Note the distinction: these investors bought equity in Digital Asset, the company. That is separate from Canton Coin, which was not sold to investors (see Tokenomics).
Timeline
Twelve years in order. Filter by era; red dots mark turning points.
Digital Asset is founded
Sunil Hirani, Don Wilson, Yuval Rooz, Shaul Kfir and Eric Saraniecki start the company in New York.
Blythe Masters becomes CEO
The former J.P. Morgan executive joins and leads the company until the end of 2018.
Acquisitions, including the roots of Daml
Digital Asset buys Hyperledger (the start-up), Bits of Proof and Zurich-based Elevence, whose modelling language becomes Daml.
ASX picks Digital Asset to replace CHESS
Australia's main exchange commits to a distributed-ledger replacement for its clearing and settlement system.
Masters steps down
AG Gangadhar serves as acting chief executive.
Yuval Rooz becomes CEO; Daml is open-sourced
The co-founder and former COO/CFO takes over. The language becomes free for anyone to use.
Broadridge DLR goes live; Goldman chooses Daml
Broadridge's Distributed Ledger Repo platform starts processing real repo trades. Goldman Sachs announces Daml for its tokenised asset platform. Digital Asset raises $120 million.
ASX abandons the CHESS replacement
ASX writes off about A$250 million after seven years of work.
Canton Network announced
Around 30 institutions, including Goldman Sachs, BNP Paribas, Deutsche Börse, Cboe, Broadridge, Moody's, Paxos and Microsoft, back a privacy-enabled interoperable network.
Large multi-firm pilot completes
Bloomberg reports that Goldman Sachs, BNY Mellon, Cboe and others finished testing tokenised asset, fund, cash, repo and margin flows on the network.
Global Synchronizer and Canton Coin go live
The Linux Foundation announces the Global Synchronizer Foundation on 1 July. The decentralised synchronizer and its token launch the same week.
Gilts, Eurobonds and gold pilot
27 market participants, among them Euroclear, the World Gold Council and Clifford Chance, complete a pilot using tokenised assets as collateral.
First APAC custody for CC
Singapore-regulated custodian Hydra X offers Canton Coin custody.
Circle buys Hashnote; first emissions step-down
Circle acquires Hashnote, issuer of the USYC tokenised money-market fund that is active on Canton. Six months after launch, maximum CC issuance halves from 40 billion to 20 billion a year.
Digital Asset raises $135 million
DRW Venture Capital and Tradeweb co-lead. Goldman Sachs, BNP Paribas and Citadel Securities take part.
CIP-0078: transfer fees removed
Governance removes nearly all direct fees on CC transfers and locks. Traffic fees remain. App rewards are limited to "featured" apps.
Global Synchronizer Foundation becomes the Canton Foundation
A simpler name for the body that oversees the shared layer.
CC reaches public exchanges; first treasury company
On 3 November Nasdaq-listed Tharimmune announces a $540 million private placement, led by DRW and Liberty City Ventures, to buy CC. On 10 November Canton Network announces listings on Bybit, KuCoin, Kraken, MEXC and Gate.
DTCC chooses Canton; more strategic money
BNY, Nasdaq, S&P Global and iCapital invest in Digital Asset (4 Dec). The SEC issues a no-action letter (11 Dec) allowing DTC to run a tokenisation service for three years. DTCC announces it will tokenise DTC-custodied US Treasuries on Canton and co-chair the Canton Foundation with Euroclear.
J.P. Morgan plans JPM Coin on Canton
Kinexys by J.P. Morgan and Digital Asset announce the intention to issue the bank's USD deposit token (JPMD) natively on Canton, in phases through 2026.
Second emissions step-down
Maximum issuance halves again, from 20 billion to 10 billion CC a year. The Super Validator share falls from 48% to 20%.
UK's first public-chain tokenised gilt trade
Lloyds Bank uses tokenised sterling deposits to buy a tokenised gilt from Archax on Canton.
OKX lists CC; Tharimmune becomes Canton Strategic Holdings
OKX opens CC/USDT spot trading. On 18 February Tharimmune starts trading on Nasdaq as CNTN.
CIP-0105: Super Validators must lock rewards
Super Validators have to lock 35% to 70% of their lifetime CC earnings, depending on weight, to keep that weight. Unlocks vest over about a year.
Zenith brings EVM apps to Canton
Zenith launches an Ethereum-compatible execution layer that settles on Canton, so Solidity developers can build without learning Daml.
The "is it a blockchain?" debate peaks
ZKsync's Alex Gluchowski and others publicly challenge Canton's model; Rooz and Kfir respond. Upbit and Crypto.com add CC (14 Apr). HSBC pilots its tokenised deposit service on Canton. Standard validator liveness rewards end on 30 April (CIP-0096).
CIP-0116: featured apps must lock CC
Apps need 5 million CC locked (25 million for asset issuers) to qualify for app rewards.
Protocol 3.5 upgrade; Bithumb listing
MainNet moves to Canton 3.5 on 27 June. Bithumb opens a Korean won market for CC on 23 June.
DTCC processes live production trades
More than 30 firms test collateral, securities lending, Treasury and equity settlement flows using DTC-tokenised assets, on Canton and on a private Besu network.
Visa, Franklin Templeton, Ledger
Visa, already a Super Validator, joins the Canton Foundation (29 Jul). Franklin Templeton becomes a Super Validator (5 Aug). Ledger Wallet adds Canton Coin (19 Aug). CC begins trading on Bitstamp by Robinhood (21 Aug). World Liberty Financial launches USD1 on Canton (25 Aug).
LSEG becomes a Super Validator
London Stock Exchange Group expands from validator to Super Validator; its Digital Settlement House cash app already runs on Canton.
DTCC commercial launch scheduled; record repo month reported
Ripple Custody adds Canton support (5 Oct). Broadridge reports $7.5 trillion of repo processed on DLR in September (8 Oct). DTCC's tokenisation service is scheduled to launch commercially this month; as of 11 October we could not confirm it was live.
How Canton works
No global ledger, no public mempool. Here is what happens instead, with two demos you can play with.
Think of a normal blockchain as one spreadsheet that thousands of computers each hold a full copy of. Canton is closer to thousands of private notebooks plus a postal service that guarantees ordering and delivery. Four building blocks do the work.
Parties
The legal actors: a bank, a fund, a custodian, you. Every contract names its signatories and observers.
Validators
Also called participant nodes. Each hosts parties, stores only their contracts, and checks only the transactions those parties are involved in.
Synchronizers
Ordering and delivery services. They timestamp encrypted messages and collect confirmations. They do not see contents or hold state.
Daml
The contract language. Privacy and authorisation rules are part of the code, so the protocol knows who is entitled to see each step.
Who sees what?
One trade: Fund A buys $50 million of tokenised US Treasuries from Dealer B. Pick a viewpoint and compare what that party can read on Canton with what anyone can read on a typical public chain.
Canton
Typical public chain 8 of 8 visible
Everyone sees the same thing whichever party you pick. Addresses are pseudonyms, but once an address is linked to a firm, its whole history and every future trade are readable by competitors.
Simplified for teaching. Real visibility depends on how the application's Daml contracts name signatories and observers. Highlighted rows are optional: the app designer decides.
Sub-transaction privacy, in plain words
The demo shows the core idea, which Digital Asset calls sub-transaction privacy. A delivery-versus-payment trade is one transaction with two legs. The securities registrar must approve the securities leg; the cash issuer must approve the cash leg. Canton sends the registrar only the securities part and the bank only the cash part. Each validates what it is shown, and the trade commits only if all the required confirmations arrive.
This is privacy through data minimisation: information is not sent to people who are not entitled to it. It is different from the zero-knowledge approach used by Zcash or Midnight, where data sits on a shared ledger in a hidden form and mathematical proofs show it is valid. The trade-off is real. Canton's model is fast and familiar to regulators, but an outsider cannot independently verify the whole system, a point we return to under Risks.
A transaction, step by step
- SubmitA party asks its validator to run a Daml command, for example "settle this trade". The validator works out the full transaction and which parties are entitled to see each part.
- Split and encryptThe transaction is cut into views. Each view is encrypted for the validators of the parties who may see it.
- SequenceThe synchronizer's sequencer gives the bundle a timestamp and a place in the order, then delivers each encrypted view to its recipients.
- Validate and confirmEach recipient decrypts its view, checks it against the Daml rules and its own records (is this asset real and unspent?), and sends a confirmation or rejection.
- CommitThe synchronizer's mediator gathers responses without learning the contents. If every required confirmation arrives, the result is "commit" and all validators update their records at the same logical time. Otherwise nothing changes anywhere.
Atomic settlement across two apps
A bond registry app and a bank's cash app are built and run by different firms. Run a trade, then run one where the cash leg fails, and compare with moving assets between unconnected ledgers.
- Press a button to start.
The Global Synchronizer and Super Validators
Anyone can run a private synchronizer for their own group; Broadridge and others did so for years. The Global Synchronizer is the shared one that lets unrelated apps and institutions meet. It is operated jointly by Super Validators, which run its sequencer and mediator nodes under Byzantine-fault-tolerant consensus, meaning it keeps working correctly even if up to a third of operators fail or misbehave. Super Validators also vote on governance, sponsor new validators, and publish the CC/USD rate used for fees.
What Super Validators cannot do is read your transactions. They order encrypted envelopes. They can see metadata such as message sizes and which validators are talking, and collectively they could delay or refuse traffic, which is why who they are matters.
The software for the Global Synchronizer, including the Canton Coin implementation, the wallet and the Scan explorer, lives in an open-source project called Splice, hosted under the Linux Foundation's Hyperledger umbrella.
Deep diveHow is this different from a public chain?
On Ethereum or Solana every validator re-executes every transaction and stores global state. That gives anyone the power to verify everything and gives no one privacy by default. On Canton a validator executes only what concerns its own parties. Total supply of an asset is vouched for by its issuer's records and the protocol's integrity checks between stakeholders, not by a ledger the public can audit.
Deep diveHow is this different from a private chain?
Classic private chains such as early Hyperledger Fabric or Corda deployments are closed clubs: a consortium runs the network and assets cannot easily leave it. Canton apps keep that control over their own data but share a common protocol, token standard (CIP-56) and public synchronizer, so an asset on one app can be used in a transaction on another without a bridge.
Deep divePruning, GDPR and "immutability"
Canton validators may prune old data they are no longer required to keep, which helps with privacy laws such as the EU's right to erasure. Critics note that most people define blockchains as immutable. Supporters reply that the commitments between parties remain cryptographically evidenced; what goes is the obligation for every node to store everything forever.
Canton Coin tokenomics
Burned by users, minted by contributors. No pre-mine, no investor allocation, and no hard cap.
Pre-mined or sold
No allocation to Digital Asset, investors, team or foundation at launch. Every coin has been earned through the reward mechanism.
Supply, Oct 2026
As shown on the Canton Foundation site on 11 October 2026. CoinGecko showed about 39.82 billion, all circulating.
Max minted per year now
The ceiling since 12 January 2026. It is a maximum: coins are minted only when rewards are claimed.
Daily fees burned
Figure shown on the Canton Foundation site on 11 October 2026 (data from The Tie). It moves daily.
Burn-mint equilibrium
Canton Coin has two flows that pull in opposite directions.
- Burn. Using the Global Synchronizer costs "traffic", priced in US dollars per megabyte of data. Users pay by burning CC at the current on-chain CC/USD rate. The coins are destroyed; they are not paid to validators.
- Mint. Every round (about ten minutes) the protocol allows a fixed maximum amount of new CC to be minted by those who contributed: apps that generated activity, validators, and Super Validators.
Because fees are fixed in dollars, a lower CC price means more coins burned for the same activity, and a higher price means fewer. The design goal is that burning and minting roughly balance over time, so supply settles at a level driven by real usage. Canton's own writing describes supply as unlimited in theory but fairly stable in practice. That is a design intention, not a guarantee.
One check on the theory: the minting curve allowed up to about 47.5 billion CC by October 2026, yet supply stood near 39.8 billion. The gap is coins that were burned or never minted.
Who gets the newly minted coins?
Shares are of issuance after a governance-set development-fund slice (5% by default under CIP-0082). Phase dates are approximate and governance can change parameters.
| Years after launch | Roughly | Max per year | Apps | Validators | Super Validators |
|---|---|---|---|---|---|
| 0 – 0.5 | Jul 2024 – Jan 2025 | 40B CC | 15% | 5% | 80% |
| 0.5 – 1.5 | Jan 2025 – Jan 2026 | 20B CC | 40% | 12% | 48% |
| 1.5 – 5 (now) | Jan 2026 – mid 2029 | 10B CC | 62% | 18% | 20% |
| 5 – 10 | mid 2029 – mid 2034 | 5B CC | 69% | 21% | 10% |
| 10+ | after mid 2034 | 2.5B CC | 75% | 20% | 5% |
Deep diveWhat changed in 2025–2026
- CIP-0078 (Sep 2025) removed nearly all per-transfer fees and restricted app rewards to "featured" apps approved through governance.
- CIP-0082 set aside a share of issuance for a protocol development fund.
- CIP-0096 phased out the standard validator "liveness" reward by 30 April 2026. Validators now earn through activity.
- CIP-0104 (approved Feb 2026) ties featured-app rewards to actual traffic. Roll-out was staged through mid-2026; check current status.
- CIP-0105 (Mar 2026) makes Super Validators lock 70%, 45% or 35% of lifetime earnings, by weight tier, with about a one-year vest.
- CIP-0116 (May 2026) requires featured apps to lock 5 million CC, or 25 million for asset issuers, with a 60-day linear unlock.
Deep diveIs "no pre-mine" the whole story?
It is accurate that no coins were created in advance or sold to investors. It is also true that for the first six months 80% of new coins went to Super Validators, at a time when that group was small and consisted of Digital Asset and its early partners. An earned distribution can still be a concentrated one.
Blockworks Research reported in 2026 that the largest reward recipients held roughly 54% of circulating CC, noting that many of those balances are operational. The locking rules above were introduced partly in response to worries about selling pressure.
Deep diveWhy "fully diluted value" is odd for CC
With no maximum supply there is no fixed number to multiply the price by. Canton's own blog (October 2025) argues that market cap, meaning current supply times price, is the sensible measure. Its illustrative estimates had supply under 42 billion in mid-2026 and under 50 billion in 2034, on the assumption that burn and mint reach balance. Those are the project's own assumptions, and readers should treat them as such.
Deep diveHow much is being burned?
Canton said more than 1 billion CC had been burned by 31 October 2025. Blockworks Research reported the daily burn-to-mint ratio rising from 0.16 to about 0.90 into early 2026, helped by the January halving of issuance. A ratio below 1 still means net inflation. A governance proposal in October 2026 would extend where burn applies; it had not been confirmed as passed when we checked.
People and organisations
Who built Canton, who governs it, who runs it and who paid for it.
Yuval Rooz
Co-founder and chief executive of Digital Asset. Board member of the Canton Foundation.
Yuval Rooz is the public face of Canton and the person most responsible for turning a struggling enterprise-blockchain vendor into the company behind a live network. He was born in Houston, Texas, in 1981 and moved to Israel before his first birthday; he grew up on the coast near Tel Aviv, one of six children of two entrepreneurs. After military service he left for the United States in 2003 to study at Georgia Tech, finishing in 2007.
His first job in finance was at Citadel in Chicago, where he worked on risk models during the financial crisis. He has said in interviews that he left within about a year, wanting broader experience. In 2009 he joined DRW, Don Wilson's trading firm, as an ETF market-maker, later became a senior algorithmic trader and helped launch DRW Venture Capital. That is where the Digital Asset idea took shape.
When Digital Asset was founded in 2014, Rooz took the less visible jobs: chief operating officer and chief financial officer, hiring much of the leadership team while Blythe Masters fronted the company. After Masters left, the board named him chief executive in March 2019. The company was then tied to a troubled ASX contract and an unproven product. Rooz's response was to open-source Daml, refocus on a platform others could build on, and later bet on a public network with its own token, an unusual move for a firm whose customers are banks.
He helped set up the Global Synchronizer Foundation with the Linux Foundation and has served as its board member and treasurer. He sits on a digital-asset subcommittee of the US CFTC's Global Markets Advisory Committee and on the board of the Global Blockchain Business Council, and has testified before a US House Financial Services subcommittee.
Rooz is direct, sometimes combative, in public. In the 2026 argument over whether Canton is "really" a blockchain he argued that critics confuse native crypto assets with real-world assets that are permissioned by law. He has also conceded that Canton lacks public verifiability today and said it is planned.
"The world is not permissionless."Yuval Rooz, interviewed by DL News, 9 April 2026
- 1981Born in Houston; raised in Israel
- 2003–07Georgia Institute of Technology (profiles list an electrical engineering degree)
- c. 2008Citadel, Chicago: equities risk modelling
- 2009–14DRW: ETF market-making, then senior algorithmic trader; helped launch DRW Venture Capital
- 2014Co-founds Digital Asset; COO and CFO
- 2019Becomes CEO, succeeding Blythe Masters
- 2023Announces the Canton Network with about 30 institutions
- 2024Global Synchronizer and Canton Coin launch
- 2025Leads $135M raise; DTCC partnership
- 2026Defends Canton's model in public debates; pushes into Korea and the UK
Biographical details come from his published speaker biographies, a 2020 long-form interview and press profiles listed under Sources. Where sources differ on dates we give the range.
Founders and early leaders
Shaul Kfir
Co-founder · former CTOComputer scientist trained at the Technion and a former Israeli navy officer. A co-author of the libsnark zero-knowledge library before Digital Asset. Profiles list him as CTO from 2014, then chief architect and COO. He is the most technical public defender of Canton's privacy design.
Eric Saraniecki
Co-founder · strategyBuilt a commodities trading desk at DRW and co-founded Cumberland, DRW's crypto trading arm. At Digital Asset he leads strategic initiatives and is closely associated with the network and token design.
Don Wilson
Co-founder · DRWFounder of Chicago trading firm DRW. A co-founder, long-time board member and repeat investor. DRW's Cumberland unit is a Super Validator, and DRW co-led both Digital Asset's 2025 round and the Tharimmune placement.
Sunil Hirani
Co-founderSerial market-structure entrepreneur, known for the swaps platforms Creditex and trueEX. One of the five original founders in 2014.
Blythe Masters
CEO 2015 – 2018Former J.P. Morgan executive who gave the start-up its early profile and bank relationships. She stepped down in December 2018, before the Canton Network existed, and is not involved in running it today.
Mark Wendland
Canton Strategic HoldingsChairman and CEO of the Nasdaq-listed CC treasury company (CNTN). Spent 16 years at Citadel and was a partner and COO at DRW. Sits on the Canton Foundation board.
The organisations
Digital Asset
Creator of Daml and the Canton protocol, and still the main developer. It sells enterprise software and services, runs a Super Validator, and owns the Canton trademark. It does not control the Global Synchronizer on its own, but the network's dependence on its engineers is a fair concern.
Canton Foundation
Formerly the Global Synchronizer Foundation, set up in July 2024 with the Linux Foundation and renamed in September 2025. It oversees the Global Synchronizer, hosts Canton Improvement Proposals (CIPs), runs a node for its members and manages the development fund. DTCC and Euroclear were announced as co-chairs in December 2025; the site lists DTCC's Dr Johnna Powell as board chair.
Linux Foundation and Splice
The Linux Foundation provides the neutral legal home. The synchronizer software, Splice, is an open-source Hyperledger Labs project, so the code that runs Canton Coin is public even though transaction data is not.
Canton Strategic Holdings (CNTN)
Formerly the biotech Tharimmune. Raised about $540 million in November 2025 from DRW, Liberty City Ventures, ARK Invest, Polychain, Kraken and others to buy CC, renamed in February 2026, and is a Super Validator. It also runs a CC locking service. We could not verify its current CC holdings.
Super Validators
The Canton Foundation site showed 62 Super Validator nodes on 11 October 2026 and named the organisations below. LSEG, appointed on 28 September 2026, was not yet on the page. Bold names are the ones most readers will recognise.
Not every famous name linked to Canton is a Super Validator. Goldman Sachs, BNP Paribas, HSBC, BNY and J.P. Morgan appear as investors in Digital Asset, board members, app operators or pilot participants. Euroclear and HSBC have Canton Foundation board seats. Kraken is an exchange and treasury-company investor. We found no evidence that Binance operates a Super Validator; YZi Labs, the investment firm associated with Binance's founder, does.
Deep diveWho invested in Digital Asset's 2025 rounds?
June 2025, $135 million: co-led by DRW Venture Capital and Tradeweb Markets, with Goldman Sachs, BNP Paribas, Citadel Securities and other financial and crypto investors.
December 2025, reported about $50 million: BNY, Nasdaq, S&P Global and iCapital.
Several investors are also customers, Super Validators or both. That alignment is a strength for adoption and a reason critics say the network's insiders overlap heavily.
Who is using Canton
What runs on the network today, what is in pilot, and how to read the big numbers.
Broadridge DLR
The Distributed Ledger Repo platform is the largest app. Broadridge reported $359 billion average daily and $7.5 trillion in total for September 2026. Much of this runs on Broadridge's own synchronizer rather than the public one.
DTCC tokenisation service
DTC custodies assets worth over $114 trillion. After a December 2025 SEC no-action letter and live production trades with 30+ firms on 15 July 2026, the commercial launch is scheduled for October 2026, covering Treasuries, Russell 1000 stocks and major ETFs. DTCC says the relationship is not exclusive to Canton.
Tokenised funds
Circle's USYC (from Hashnote), a tokenised money-market product with more than $1 billion in assets, and Franklin Templeton's Benji fund are available on Canton. Franklin Templeton became a Super Validator in August 2026.
Stablecoins
USDCx, a privacy-enabled token backed 1:1 by USDC, is used as a quote currency on Canton venues. Brale bridges USDC and USDT. World Liberty Financial launched USD1 on Canton in August 2026, and USDT0 runs a Super Validator.
Bank deposit tokens
J.P. Morgan's Kinexys announced in January 2026 that it would bring JPM Coin (JPMD) to Canton in phases. HSBC simulated issuing and atomically settling its Tokenised Deposit Service on Canton in April 2026. LSEG's DiSH offers tokenised commercial-bank cash for intraday repo.
On-chain financing
A working group including Bank of America, Circle, Citadel Securities, Cumberland, Société Générale, Tradeweb and Virtu has financed US Treasuries against stablecoins on-chain, including at weekends. Tradeweb reported a real-time tokenised Treasury trade in July 2026.
Gilts and sterling
In January 2026 Lloyds Bank bought a tokenised gilt from Archax using tokenised sterling deposits, described as the UK's first such public-blockchain transaction. An earlier 2024 pilot with Euroclear and the World Gold Council tested gilts, Eurobonds and gold as collateral.
Bitcoin, DEXs, derivatives
CBTC, a wrapped Bitcoin from BitSafe, has passed 10 million transactions. CantonSwap and Temple offer trading; Ekiden launched an order-book derivatives exchange in September 2026; Unhedged runs a private prediction market; Zenith hosts EVM apps.
Bank platforms
Goldman Sachs's digital asset platform (GS DAP), HKEX's Synapse and Deutsche Börse's D7 were built with Digital Asset's technology. Not all of their activity touches the Global Synchronizer.
How to read the headline numbers
You will see claims such as "$9 trillion a month" or "over 600 institutions". These come from Canton Strategic Holdings and Canton marketing, and are dominated by Broadridge's repo figures. Three cautions:
- Repo inflates volume. Overnight repo is re-done every day, so the same collateral is counted again and again. $359 billion a day is activity, not assets locked.
- You cannot check it yourself. Privacy means there is no public explorer for transaction contents. Figures are self-reported by operators. Critics, including L2Beat's Bartek Kiepuszewski, have said this makes Canton hard to audit from outside.
- Private synchronizers are not the public network. Blockworks Research noted that much large-institution activity does not yet flow through the Global Synchronizer, and so does not burn CC.
What is public: the number of validators (807 on 11 October 2026), fees burned (about $1.7 million a day on that date) and Canton Coin balances and rewards, viewable through explorers such as CCView and Canton Scan.
Roadmap and what comes next
Scheduled, in progress and merely proposed. Dates slip; treat this as a snapshot from October 2026.
DTCC commercial launch
The DTC Tokenization Service is due to open commercially in October 2026, with DTCC's Collateral AppChain planned for Q4. Community sources point to late October. Not confirmed live when we checked on 11 October.
JPM Coin roll-out
Kinexys planned a phased JPMD deployment through 2026 and said it was considering bringing its Blockchain Deposit Accounts to Canton too.
Traffic-based app rewards
CIP-0104 moves featured-app rewards to a measure of real traffic. The supporting code was enabled in mid-2026; full activation depended on a further vote.
CantonBFT
The upgrade plan published in June 2026 replaces the CometBFT ordering layer with a Canton-native BFT service, with a tentative MainNet date in August 2026. We could not confirm completion.
EVM and beyond
Zenith's EVM layer is live; it has said Solana-VM support is planned. Ledger says support for Canton assets beyond CC is coming to its wallet.
Development fund plan
The Canton Foundation published a multi-year roadmap for the fund covering scalability, financial standards, developer tooling and security, with a formal request-for-proposals process from 1 September 2026.
Public verifiability
Rooz said in April 2026 that Canton lacks public verifiability today and that it is planned. No date or design has been committed publicly that we could find.
US benefits pilot
Digital Asset and the American Idea Foundation selected Canton for a three-state pilot of a benefits programme, targeted for early 2027 and subject to federal approval.
Next emissions step
Around mid-2029, five years after launch, maximum issuance is set to halve to 5 billion CC a year and the Super Validator share to fall to 10%.
Outside the project's control: US market-structure legislation, the UK's wholesale digital markets work launched in July 2026, and how regulators treat tokenised collateral will all shape demand.
Canton compared
Seven different answers to "how should institutions use shared ledgers?" Scroll sideways on small screens.
| Canton | Ethereum | Solana | Hyperledger Fabric | R3 Corda | Quant Overledger | Midnight | |
|---|---|---|---|---|---|---|---|
| What it is | Network of private ledgers joined by synchronizers | General-purpose public chain with rollups | High-throughput public chain | Open-source framework for private consortium chains | Private ledger platform for regulated finance | Software that connects existing chains and bank systems through APIs | Privacy-focused chain using zero-knowledge proofs; Cardano partner chain |
| Who can read transactions | Only the parties involved | Everyone, unless a privacy layer is added | Everyone; optional confidential-balance features | Members of a channel | Only the parties involved | Depends on the networks it connects | Shielded by default with selective disclosure |
| Privacy method | Data minimisation: views sent only to stakeholders | None at base layer; ZK rollups and private L2s exist | Mostly none at base layer | Channels and private data collections | Peer-to-peer sharing, notaries | Not a ledger itself | Zero-knowledge proofs on a shared ledger |
| Who can run core infrastructure | Super Validators approved by two-thirds vote; validators need a sponsor | Anyone staking 32 ETH | Anyone with capable hardware and stake | Consortium members | Network operator and members | Quant and its clients | Began with a federated operator set; plans to widen |
| Publicly verifiable state | No (stated as planned) | Yes | Yes | No | No | n/a | Validity yes, contents no |
| Smart contracts | Daml; EVM through Zenith | Solidity / EVM | Rust programs | Go, Java, JavaScript chaincode | Kotlin / Java | Uses the contracts of connected chains | Compact (TypeScript-like) |
| Cross-app atomic settlement | Native, across apps and synchronizers | Native within one chain; bridges across rollups | Native within the chain | Within a channel | Within a network | Orchestrated across systems | Within the chain |
| Native token | CC: burned for fees, minted as rewards | ETH | SOL | None | None | QNT (licensing and access) | NIGHT, which generates DUST for fees |
| Typical users | Banks, market infrastructures, asset managers | Everyone: DeFi, stablecoins, tokenised funds | Retail, payments, trading, some tokenised funds | Supply chains, enterprise consortia | Banks, central-bank projects | Banks and payment firms connecting systems | Developers needing data protection |
| Main criticism | Gated operators; cannot be audited from outside | No default privacy; cost and fragmentation across L2s | Past outages; hardware demands | Isolated networks | Isolated networks; limited ecosystem | Relies on a vendor's proprietary gateway | Young network; proof systems are complex |
A table flattens nuance. Ethereum's institutional story includes private rollups such as ZKsync's Prividium; Corda and Fabric have both added interoperability features; and Quant is better thought of as middleware than a competitor chain. Curious about the others? See whatisquant.com, whatismidnight.com and whatissol.com.
Wallets guide
Canton is not an EVM chain, so the usual wallets do not hold CC natively. These do, according to official and vendor sources.
Ledger
Ledger Wallet has supported Canton Coin since 19 August 2026: create a Canton account, send, receive and sign with a Ledger device. Other Canton assets were not yet supported at launch. Ledger also runs a Super Validator.
Cypherock X1
Listed in Canton's November 2025 wallet guide as the first retail hardware option. The vendor says it also handles CBTC and USDCx and splits the key across five components instead of a seed phrase.
Canton Loop
Web wallet from 5North, a Super Validator and Canton Foundation premier member. One of the most used retail wallets and a top app by rewards.
Bron
Retail self-custody wallet listed in Canton's official guide.
Console Wallet
Browser-based self-custody wallet listed in Canton's official guide.
Others in the official guide
Republic, Send, Zoro Wallet and Cantor8 were also listed in November 2025. Newer entrants in 2026 include Node Fortress's CC Wallet (beta) and Maha Wallet. Check each one's current status.
Custody platforms
BitGo, Blockdaemon, Copper, Dfns, Unit410, Taurus, Fireblocks, Hydra X and Zodia are named in Canton's guide. Ledger Enterprise added support in 2026.
Ripple Custody
Version 1.43, released 5 October 2026, added native support for CC and CIP-56 tokens. Institutions run their own Canton validator while Ripple manages the signing keys.
Splice wallet
The open-source reference wallet that ships with validator software. Functional rather than friendly; mostly used by node operators.
Exchange accounts
Leaving CC on Kraken, OKX, Bybit, Upbit or another exchange is the simplest route and the one with counterparty risk: the exchange holds the keys.
Not supported natively
MetaMask, Trust Wallet and Phantom do not hold CC as a native Canton asset. MetaMask can connect to EVM apps on Zenith, which is a different thing. Beware look-alike "CC" tokens on other chains.
Deep diveWhy Canton wallets feel different
- Your wallet lives on a validator. A Canton party is hosted by a participant node. Self-custody wallets keep your signing key with you but still rely on a validator to submit and store your contracts.
- Transfers can need acceptance. By default a Canton transfer is an offer the receiver accepts, so nobody can push unwanted assets at you. Wallets can set up "pre-approval" so deposits arrive automatically. Ledger notes you can cancel a pending transfer.
- Addresses are party IDs. They look like
name::1220ab…, not a 0x address. - Idle coins are not free. A small holding fee accrues per coin record, and very small, long-untouched amounts can expire. Normal balances are unaffected, but dust is.
Where and how to buy CC
Information, not advice. Availability differs by country and changes often; always check the exchange itself.
| Exchange | Listed | Notes |
|---|---|---|
| Kraken | Nov 2025 | CC/USD market. Kraken also invested in the CC treasury company. |
| Bybit | Nov 2025 | CC/USDT and CC/USDC. |
| KuCoin, MEXC, Gate | Nov 2025 | CC/USDT. Gate added USDCx on Canton deposits in May 2026. |
| OKX | 12 Feb 2026 | CC/USDT spot; separate listing notices for the EEA and a CC/USD pair. OKX states availability varies by region. |
| Upbit | 14 Apr 2026 | KRW, BTC and USDT markets (South Korea). |
| Crypto.com | 14 Apr 2026 | App deposits and withdrawals on the Canton Network. |
| Bithumb | 23 Jun 2026 | KRW market (South Korea). |
| Bitstamp by Robinhood | 21 Aug 2026 | Announced by Canton Network. |
| Bitget | — | Shown among CC markets on CoinGecko; listing date not verified. |
| On-network | 2026 | Temple, CantonSwap and Cantex trade CC against USDCx on Canton itself. |
We could not verify a Binance or Coinbase spot listing for CC as of 11 October 2026. If you see one advertised, confirm it on the exchange's own announcements page.
Step by step
- Check what is available where you liveOpen the exchange's site from your own country and search for "CC" or "Canton". Several other tokens use similar tickers; the one you want is named Canton or Canton Network.
- Open and verify an accountRegulated exchanges ask for identity documents. Turn on two-factor authentication with an authenticator app before you deposit anything.
- Fund the accountBank transfer for USD, EUR or KRW pairs where offered, or deposit a stablecoin for USDT/USDC pairs.
- Place the orderCC order books are thinner than those of the largest coins, so a limit order protects you from paying more than you meant to. Start small.
- Decide where to keep itLeave it on the exchange, or withdraw to a wallet from the guide above. When withdrawing, choose the Canton Network and paste your Canton party ID exactly.
- Send a test amount firstIf your wallet has not set up pre-approval you may need to accept the incoming transfer. Confirm the small one arrives before sending the rest.
- Keep recordsNote dates, amounts and prices. Most tax authorities treat crypto disposals as taxable events.
Deep diveOther ways people get exposure, and their catches
- Listed treasury company. Canton Strategic Holdings (Nasdaq: CNTN) holds CC and runs a Super Validator. It is a company share with its own risks, costs and a biotech business attached; its price need not track CC.
- Earning it. Validators and featured apps earn CC through activity. This is a business, not a savings product; see the next section.
- Exchange "earn" products. Some exchanges offer fixed-term CC deposits. You are lending to the exchange.
Running a validator
A high-level view for the technically curious. This is infrastructure work, not passive staking.
Validator
Runs a participant node: hosts parties, stores their contracts, validates their transactions and connects to the Global Synchronizer. It does not run consensus or vote. Official docs list four prerequisites:
- Ability to operate containerised services (Docker or Kubernetes)
- Infrastructure that meets the published requirements
- Sponsorship from a Super Validator
- A Canton Coin budget for traffic fees
Super Validator
Runs sequencer and mediator nodes for the Global Synchronizer, votes on CIPs, sponsors validators and publishes the CC price feed. Admission is a proposal that existing Super Validators approve by a two-thirds majority, based on what the applicant brings to the network. Since March 2026 they must lock a large share of their rewards.
The path, roughly
- Start on DevNet or a LocalNetThe Canton developer hub provides a local network you can run on a laptop, with validators, a synchronizer, wallet and CC.
- Find a sponsorContact a Super Validator from the Canton Foundation's list and explain your use case. Node-as-a-service firms can host a validator for you.
- Prepare infrastructure and onboardYour sponsor provides onboarding credentials. You deploy the Splice validator software and connect to TestNet, then MainNet.
- OperateKeep up with scheduled upgrades (several a year in 2026), monitor, back up, protect keys and keep traffic topped up.
Economics changed in 2026. The flat "liveness" reward that many small validators relied on ended on 30 April 2026. A validator now earns CC mainly by carrying real activity, so running one with no users is a cost.
Risks and criticisms
The strongest objections, stated fairly, with the response from the project's side. Decide for yourself.
It is permissioned in practice
Super Validators are admitted by vote of the incumbents, mostly large institutions and service firms. Validators need a sponsor. The Defiant's founder and others argue Canton should simply call itself permissioned.
Open standards, gated operators
The code is open source, anyone can propose changes and any firm can apply. Rooz argues merit-based admission is no less fair than a capital requirement, and that regulated assets are permissioned by nature.
Nobody outside can verify it
With no global state, the public cannot audit total supply of an asset or check volume claims. ZKsync's Alex Gluchowski argues this means Canton is not a blockchain. Analyst Austin Campbell has questioned what the repo figures represent.
Stakeholders verify what they own
Kfir says each user trusts only their own validator and that issuers must be trusted for real-world assets on any chain. Rooz has conceded public verifiability is missing and says it is planned.
Concentration of coins and power
Early Super Validators received most early emissions. Blockworks Research put the largest reward recipients at about 54% of circulating CC. DRW appears as co-founder, investor, Super Validator and treasury-company backer.
Shares fall, locks apply
The Super Validator share dropped from 80% to 20% and falls further; rewards must now be locked to keep weight; the operator set has grown past 60 nodes. DRW's Don Wilson has denied paying anyone to participate.
Inflation and selling pressure
Up to 10 billion new CC a year against about 40 billion in supply is a high gross issuance rate. If burn does not keep pace, holders are diluted. Reward earners have ongoing costs to cover.
Issuance halves on schedule
The ceiling halved twice already and does so again around 2029. Burn rose sharply into 2026 and the cap is a maximum, not a target. Whether equilibrium arrives depends on usage.
Dependence on Digital Asset
One company wrote the protocol, employs most core engineers, owns the trademark and has a history that includes the failed ASX project.
Foundation and fund
Governance sits with the Canton Foundation, the code is open under the Linux Foundation, and a development fund pays outside teams. This reduces the dependence; it does not remove it.
Activity that bypasses the token
Large flows on private synchronizers do not pay Global Synchronizer fees. Institutional success and CC demand are related but not the same thing.
Interoperability pulls traffic in
Supporters expect cross-app settlement, such as DTCC collateral against bank cash, to route through the shared layer. That is a forecast, not a fact.
Regulation, liquidity and complexity
DTCC's permission is a three-year no-action letter, not a permanent rule. CC order books are thin compared with major coins. Daml is a niche language and the wallet model confuses newcomers.
Improving, unevenly
Listings widened through 2026, an EVM layer and better developer tools arrived, and regulators in the US and UK have engaged directly. None of this removes market risk.
This site does not give investment advice or price predictions. Crypto assets are volatile and you can lose everything you put in.
Myths and facts
Tap a card to see what holds up.
Glossary
Canton has its own vocabulary. Search it.
- Amulet
- The generic name for the token in the Splice codebase. On the Global Synchronizer, the amulet is Canton Coin.
- App provider
- An organisation that runs an application on Canton. Featured app providers earn CC for activity they generate.
- Atomic settlement
- All legs of a transaction complete together or none do. Removes the risk of delivering an asset and not being paid.
- BFT
- Byzantine fault tolerance. A system keeps working correctly even if up to a third of its operators fail or act maliciously.
- Burn-mint equilibrium
- The design in which CC burned for fees and CC minted as rewards are expected to balance over time.
- Canton Coin (CC)
- The native token of the Global Synchronizer. Burned to pay traffic fees; minted to reward apps, validators and Super Validators.
- Canton Foundation
- The non-profit, hosted with the Linux Foundation, that oversees the Global Synchronizer. Called the Global Synchronizer Foundation until September 2025.
- Canton protocol
- The rules by which validators exchange encrypted transaction views and reach agreement through a synchronizer.
- CBTC
- A Bitcoin-backed token on Canton issued through BitSafe.
- CIP
- Canton Improvement Proposal. A public governance proposal voted on by Super Validators.
- CIP-56
- The Canton token standard, so wallets and apps can handle any compliant asset the same way.
- Daml
- The smart-contract language created by Digital Asset. Contracts state who signs, who observes and who may exercise each choice.
- Deposit token
- A blockchain representation of a commercial bank deposit, such as JPM Coin. Unlike a stablecoin, it is a claim on the issuing bank.
- DLR
- Distributed Ledger Repo, Broadridge's repo platform and the largest application built on Canton technology.
- DSO
- Decentralized Synchronizer Operator. The Super Validators acting collectively to run the Global Synchronizer.
- DvP
- Delivery versus payment. A securities trade in which the asset and the cash move at the same moment.
- Featured app
- An application approved through governance to earn app rewards. Since May 2026 it must also lock CC.
- Global Synchronizer
- The public, decentralised synchronizer run by Super Validators that links independent Canton apps and validators.
- Holding fee
- A small charge per coin record over time, designed to clear out abandoned dust.
- Mediator
- The part of a synchronizer that collects confirmations and declares a transaction committed or rejected, without seeing its contents.
- Minting curve
- The schedule of maximum new CC per year and how it is split between apps, validators and Super Validators.
- Network of networks
- Canton's description of itself: many independently run ledgers joined by a common protocol.
- No-action letter
- A statement from SEC staff that they will not recommend enforcement over a described activity. DTC received one in December 2025.
- Observer
- A party entitled to see a Daml contract without being able to change it, for example a regulator.
- Participant node
- Another name for a validator: the node that hosts parties and stores their contracts.
- Party
- An identity on Canton, such as a firm, a desk or a person, hosted on a validator.
- Pre-approval
- A wallet setting that accepts incoming transfers automatically, so senders do not have to wait for you.
- Repo
- A repurchase agreement: a short-term loan secured by securities, usually government bonds.
- Round
- The roughly ten-minute cycle in which activity is recorded and CC rewards become mintable.
- Scan
- The explorer service run by Super Validators for public Global Synchronizer data such as CC balances and rounds.
- Sequencer
- The part of a synchronizer that orders and timestamps encrypted messages and delivers them.
- Signatory
- A party whose authorisation is required for a Daml contract to exist.
- Splice
- The open-source software for running a decentralised synchronizer, including the Canton Coin logic and reference wallet.
- Sub-transaction privacy
- Each party sees only the parts of a transaction that concern it, not the whole.
- Super Validator
- An organisation that helps run the Global Synchronizer, votes on governance and sponsors validators.
- Synchronizer
- A service that orders messages between validators and coordinates commitment. Can be private or, like the Global Synchronizer, public.
- Traffic
- Network usage measured in bytes. Bought by burning CC at a price set in US dollars per megabyte.
- USDCx
- A privacy-enabled token on Canton backed 1:1 by USDC reserves.
- USYC
- A tokenised money-market product originally from Hashnote, now part of Circle.
- Validator
- A node that hosts parties and validates the transactions they take part in. Does not see anyone else's.
- Zenith
- An execution layer that lets Ethereum-style (EVM) applications run and settle on Canton.
Test yourself
Twelve questions. Each answer comes with an explanation, and your best score is saved on this device.
FAQ
Short answers to the questions people ask most.
What is Canton in simple terms?
Canton is a blockchain network designed for financial institutions. Instead of one public ledger that everyone can read, each participant keeps its own records and shares each transaction only with the parties involved. A shared service called the Global Synchronizer lets separate applications settle with each other.
What is Canton Coin (CC) used for?
Canton Coin is the native token of the Global Synchronizer. Users burn it to pay for network traffic, which is priced in US dollars, and the protocol mints new coins to reward application providers, validators and Super Validators for activity they bring to the network.
Who created Canton?
Canton was created by Digital Asset, a New York company founded in 2014 by Sunil Hirani, Don Wilson, Yuval Rooz, Shaul Kfir and Eric Saraniecki. Yuval Rooz has been chief executive since 2019. The shared network layer is now governed by the Canton Foundation, which is hosted with the Linux Foundation.
Is Canton a public or a private blockchain?
It has features of both. The Global Synchronizer is open, shared infrastructure and Canton Coin trades publicly, but transaction contents are private to the parties involved. Joining as a Super Validator requires a two-thirds vote of existing Super Validators, so critics describe the network as permissioned.
How is Canton's privacy different from Zcash or Midnight?
Canton does not put hidden data on a shared ledger. It simply does not send data to anyone who is not a party to the transaction. Zcash and Midnight use zero-knowledge proofs so that data on a shared ledger can be verified without being revealed. Canton's approach is simpler for regulated firms but cannot be verified by outsiders.
Was there a pre-mine or a token sale?
No. Canton Coin had no pre-mine and was not sold to investors. All coins have been minted as rewards since launch in July 2024. However, early Super Validators earned a large share of the first emissions, so distribution is still concentrated.
Is there a maximum supply of Canton Coin?
No. There is no hard cap. The protocol sets a maximum amount that can be minted each year, which halves in steps, and coins are burned whenever the network is used. Supply was about 39.8 billion CC in October 2026.
Where can I buy Canton Coin?
As of October 2026 CC is listed on exchanges including Kraken, OKX, Bybit, KuCoin, Gate, MEXC, Upbit, Bithumb, Crypto.com and Bitstamp by Robinhood. Availability depends on your country, so check the exchange directly. This is information, not a recommendation to buy.
Which wallets support Canton Coin?
Canton-native wallets include Canton Loop, Bron and Console Wallet. Ledger added Canton Coin support in August 2026 and Cypherock X1 is another hardware option. Institutions use custodians such as BitGo, Fireblocks, Copper and Ripple Custody. MetaMask, Trust Wallet and Phantom do not hold CC natively.
Who uses the Canton Network?
The largest application is Broadridge's Distributed Ledger Repo platform, which reported $359 billion in average daily volume in September 2026. DTCC is launching a tokenisation service for US Treasuries and other securities on Canton, and firms including J.P. Morgan, HSBC, Franklin Templeton, Circle, Tradeweb, Nasdaq, Visa and LSEG are involved as issuers, operators or Super Validators.
What are the main risks?
The main criticisms are that key operators are admitted by vote rather than openly, that outsiders cannot verify network activity, that coins and influence are concentrated among early participants, that token issuance is high, and that the network still depends heavily on Digital Asset. Like all crypto assets, CC is volatile.
Is this site affiliated with Digital Asset or the Canton Foundation?
No. whatiscanton.com is an independent educational resource. It is not affiliated with Digital Asset, the Canton Foundation or the Global Synchronizer Foundation, and nothing on it is financial advice.
Sources and further reading
Everything on this page was checked against these in October 2026. Primary sources first.
- Canton Network — official site and news.
- Canton Foundation — members, network statistics, Super Validator and board lists.
- Canton documentation — tokenomics reference, Global Synchronizer overview, validator roles.
- Canton blog: How should we think about FDV? (31 Oct 2025).
- Canton blog: Guide to wallets, exchanges and custody providers (7 Nov 2025).
- CCView: The economics of Canton Coin — minting curve and CIP summaries.
- DTCC press release (4 May 2026) — tokenisation service timetable.
- DTCC: Tokenization into reality (15 Jul 2026).
- Broadridge press release (8 Oct 2026) — DLR volumes.
- LSEG press release (28 Sep 2026).
- Ledger: Canton Coin on Ledger Wallet (19 Aug 2026).
- OKX listing notice (Feb 2026).
- Blockworks Research: Canton Network, Wall Street's blockchain (2026).
- DL News interview with Yuval Rooz (9 Apr 2026).
- Cointelegraph: Canton and ZKsync clash (21 Apr 2026).
- The Defiant: Permissioned or not? (1 Apr 2026, opinion).
- The Block: JPM Coin to Canton (7 Jan 2026).
- FinTech Futures: HSBC tokenised deposit pilot (14 Apr 2026).
- Ledger Insights: DTCC to tokenize Treasuries on Canton (Dec 2025).
- Ledger Insights: ASX sells Digital Asset stake.
- CNBC: $135 million funding round (24 Jun 2025).
- Crowdfund Insider: strategic investment (4 Dec 2025).
- Cointelegraph: Tharimmune's $540M CC treasury (3 Nov 2025).
- Genfinity: Canton Strategic Holdings and the DTCC launch (21 Jul 2026).
- Forkast: DTCC readies tokenization for October (30 Aug 2026).
- MPost: Zenith goes live (Mar 2026).
- The Defiant: Bithumb lists CC (23 Jun 2026).
- Sramana Mitra interview with Yuval Rooz (2020).
- Ledger Insights: Rooz promoted to CEO (2019).
- Wikipedia: Digital Asset Holdings and Canton Network — for dates, cross-checked.
- CantonNews and CoinMarketCap updates — recent ecosystem news.
- CoinGecko: Canton (CC) — live price data and market list.
Keep exploring
Canton is one answer to how money and markets move on-chain. The rest of the "What is" series covers the others in the same plain style.