BitGo Extends Institutional Custody Services to Canton Network’s Native Token
BitGo, a provider of digital asset infrastructure, has it will now support custody for Canton Coin (CC), the native token of the Canton Network. This connection enables regulated institutions in the US to securely and legally handle Canton Coin through one of the largest qualified custodians in the business.
BitGo is known for its secure cold storage answers and assets backed by insurance. This makes its backing significant for institutions to begin using new digital assets.
The Canton Network’s History
The Canton Network is meant to integrate regulated businesses into the blockchain world. This will make it easier for financial apps and tokenized assets to work together while still following the rules.
The network has viewn increased activity and backing from major banks since it began in 2023. It focuses on turning ) into tokens and making sure they can be used on-chain in a legal way.
Strategic Partnerships and Interest from Institutions
Participation by institutions in the Canton Network has grown rapidly, with major companies such as Goldman Sachs, , Bank of America, and Citigroup joining. BNP Paribas and HSBC, two of the world’s largegest banks, have also joined the Canton Foundation to assist promote the use of blockchain technology that is specifically designed for businesses.
The agreement with BitGo further strengthens this infrastructure by providing institutions with secure ways to store their assets. The addition of Canton Coin to BitGo’s custody services comes at a time when more people are interested in tokenized RWAs.
According to industry estimates, the total value of tokenized RWAs, not including , is already over $35 billion. These assets include private credit, U.S. Treasury debt, private equity, and stocks.
This shows that blockchain-enabled financial instruments are being used in an increasing number of ways. The partnership supports a largeger goal of making tokenized assets easier to use and securer for people who trade in regulated markets.
What BitGo Does and What It Might Do in the Future
is one of the largegest custodians in the crypto sector, with about $90 billion in assets under its care. It keeps adding to its institutional answers. The company just filed for an initial public offering (IPO) in the US, which shows how much it has grown and how significant it is becoming.
Adding support for Canton Coin is part of BitGo’s goal to provide the infrastructure that assists institutions adopt new digital assets. BitGo’s addition of Canton Network’s native token to its custody services is a large step toward more institutions using the service.
BitGo’s secure custody answers and Canton’s compliant ecosystem work together to make it securer and easier for regulated institutions in the U.S. to access tokenized real-world assets. This encourages innovation and confidence in the changing digital financial sector.
