Copper research says the use of Canton Network, a blockchain built for regulated financing, has quietly increased with validator activity now including larger US exchanges along with banks and infrastructure companies.
Just over a year after launch, Canton has reached a scale unmatched by former institutional blockchains thanks to the support of Goldman Sachs (GS), HSBC (HSBC) and Broadridge (BR), Crypto Copary Firm said in a Wednesday report.
The report noted that Broadridge deals only more than $ 5.9 trillion monthly in tokenized US Finance Ministry on the network.
Exchanges including Binance USA, Crypto.com and Gemini (Gemi) also run validators, while Kraken has signaled a possible list of Canton’s token. Although no exchange has confirmed plans, Copper said such a list would be unprecedented for a allowed blockchain supported by major financial institutions.
Network activity also accelerates. Canton recorded more than 500,000 daily transactions at the end of the September, more than USDC and USDT transfers combined over the same period and approaching Ethereum’s quantities. Copper research emphasized that this activity is already driven by living institutional applications, not pilots.
According to analysts, the favorable regulation and Canton’s privacy -focused, interoperable design make it suitable for shared institutional platforms.
Versana, supported by JPMorgan (JPM) and Wells Fargo (WFC), now has seven global banks sharing syndicated loan data, while Goldman Sachs’ DAP has supported tokenized bond issues.
This institutional adoption is what separates Canton, the report added.
Read more: Chainlink selected by privacy -focused blockchain canton to push institutional adoption
