BUSINESS INNOVATION

Blockchain Project: Digital Asset Canton Network Institutional Tokenized Real World Assets Pilot

Fifteen asset managers, 13 banks, 4 custodians, 3 exchanges, and 1 financial market infrastructure provider participated in a successful pilot testing tokenization of real world assets using the Canton Network protocol. Over a four-day period, participants were invited to try 22 dApps comprising five fund registries, five cash registries, three bond registries, three trading, four margin, and two financing apps, to exchange tokenized securities, money market funds, and deposits across applications.

Institutions with blockchain applications in production, including BNY Mellon, Broadridge, DRW, EquiLend, Goldman Sachs, Oliver Wyman, and Paxos, provided market expertise for the working group throughout the program. 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.