The Canton Network, a blockchain built for regulated finance, has acquired a strategic partnership with ChainLink and expanded its institutional adoption.
The agreement, announced Wednesday, will allow Canton to integrate ChainLink’s suite of services, including data streams, backup proofs and cross-chain interoperability protocols. Canton also participated in the Chain Link Scale Program. This helps to cover the cost of running an Oracle node that feeds external data into the blockchain.
ChainLink Labs assumes the role of Super Validator in Canton’s Global Synchronizer, designed to synchronize transactions across the network. ChainLink already supports Canton, along with a roster of over 30 super validators and over 500 validators.
For institutions, this transaction could mean faster access to tokenized securities, stubcoins and digital identity tools without sacrificing compliance or privacy. Check the value in real time by banks that issue tokenized bonds at the canton and rely on chain links to check the collateral value in real time. This is a scenario designed to reduce costs while reducing counterparty risk.
ChainLink already has more than $100 billion in its entire decentralized finances, driving a $25 trillion transaction value. The entry into the canton coincides with increasing demand from financial companies exploring tokenized assets and cross-chain applications.
“This collaboration paves the way for Canton to focus on ChainLink’s infrastructure and regulated funding, paving the way for real-world institutional use cases,” ChainLink co-founder Sergey Nazarov said in the release.
