Goldman Sachs, Moody's and more join Digital Asset's blockchain network

Quick Take

  • Digital Asset, a blockchain technology company building institutional products, is launching a global blockchain network. 
  • Goldman Sachs, Moody’s, DRW, and Microsoft are among a plethora of firms joining the project. 
  • The network, which will be privacy-enabled, is set to launch in July. 

Digital Asset, the financial technology firm co-founded by DRW's Don Wilson, is launching a privacy-enabled blockchain — and some of the biggest names in finance and tech are on board. 

Goldman Sachs, Moody's, DRW, and Microsoft are among the firms joining the blockchain, dubbed Canton Network. It will be a privacy-enabled interoperable blockchain explicitly designed for institutional assets, according to the release.

The other firms involved include BNP Paribas, Broadridge, Cboe Global Markets, Cumberland, Deloitte, Deutsche Börse Group, DRW, Liberty City Ventures, Paxos, Right Pedal LendOS, S&P Global, SBI Digital Asset Holdings, Umbrage, Versana, VERT Capital, Xpansiv, and Zinnia.

Canton Network is an example of Capgemini and Digital Asset's other partners "harnessing the power of blockchain to build a financial ecosystem that everyone can depend on," Sankar Krishnan, head of digital assets and fintech at Capgemini, said in the release. 

The blockchain aims to provide "seamless connectivity across various blockchain networks in the industry," which is an essential "building block for future digital and distributed financial market infrastructures," according to Deutsche Börse Group's Jens Hachmesiter, head of issuer services & new digital markets at the exchange.

According to the release, the participating firms will begin testing the blockchain's interoperability capabilities across various applications and use cases in July.

© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.