Copper research shows that the use of Canton Networks, a blockchain built for regulated finance, has been quietly surged, with validators now involving major exchanges in the US alongside banks and infrastructure companies.
Just a year after the launch, Canton reached an unparalleled scale of the blockchain of its previous facility thanks to support from Goldman Sachs (GS), HSBC (HSBC) and Broadridge (BR).
The report notes that Broadridge alone tokenizes US Treasury repos on its network, processing more than $5.9 trillion per month.
Exchanges like Binance US, Crypto.com, Gemini (Gemi) are also running validators, but Kraken shows a possible list of Canton tokens. The exchange has not confirmed the plans, but Copper said such a list is unprecedented due to the permitted blockchain supported by major financial institutions.
Network activity is also accelerating. Canton had recorded more than 500,000 transactions daily by the end of September. This is approaching the Ethereum volume by combining USDC and USDT transfers over the same period. Copper research emphasized that this activity was already driven by live institutional applications rather than pilots.
Analysts say that the interoperable design focused on favorable regulations and Canton privacy makes it suitable for shared institutional platforms.
Versana, backed by JPMorgan (JPM) and Wells Fargo (WFC), currently has seven global banks sharing syndicated loan data, and Goldman Sachs’ DAP supports tokenized bond issuance.
This institutional adoption highlights Canton, the report added.
read more: Chain links selected by the Privacy-focused Blockchain Canton promote institutional adoption
