Major Investment Banks and Asset Managers in Blockchain Pilot

Digital Asset’s blockchain network Canton has completed a pilot involving a large group of major investment banks and asset managers demonstrating interoperability of independent distributed ledger applications (dApps) in the capital markets domain. According to a story in The Trade news, the blockchain pilot for tokenized real-world assets included 155 participants from 45 major organizations demonstrating settlement across 22 permissioned blockchains connected on Canton while “maintaining the controls demanded for regulated capital markets”. institutions with blockchain applications in production include Goldman Sachs, BNP Paribas, DTCC, Northern Trust, Standard Chartered, State Street, BNY Mellon, Broadridge, EquiLend, and Paxos. The pilot included the successful execution of over 350 simulated transactions, proving how a network of interoperable applications can connect to enable secure, atomic transactions across multiple parts of the capital markets value chain. Digital Asset also said the pilot demonstrated the potential benefits of using such a network to reduce counterparty and settlement risk, optimize capital, and enable intraday margin cycles.