HSBC, BNP Paribas Join Canton Network for Institutional Blockchain Adoption

Global banking giants BNP Paribas and HSBC have aligned with the Canton Foundation, the governing body behind the institutional-focused Canton Network blockchain. Their participation aims to shape the network's strategic direction, signaling deepening institutional engagement with distributed ledger technology.

"This reflects our commitment to leveraging DLT for evolving client needs," said Hubert de Lambilly, Head of Global Markets at BNP Paribas. HSBC's John O'Neil echoed the sentiment, noting the move WOULD "foster blockchain maturation and create real liquidity in digital asset markets."

The privacy-focused Canton Network, designed specifically for interbank collaboration on tokenized assets, now counts over 30 foundation members and 400 ecosystem participants. This growth underscores financial institutions' accelerating demand for compliant blockchain infrastructure.

The development follows Digital Asset's recent $135 million funding round led by DRW Venture Capital and Tradeweb Markets. "This validates our vision of privacy-enabled institutional blockchain adoption," said Digital Asset CEO Yuval Rooz.