Canton Network has partnered with Chainlink, utilizing the oracle platform’s solutions to boost institutional adoption.
Overview
- Canton Network has adopted Chainlink to harness solutions such as Data Streams and Cross-Chain Interoperability Protocol to enhance adoption.
- This strategic alliance also welcomes Chainlink Labs as a super validator for Canton Network.
- Chainlink’s total value secured recently reached $100 billion.
Canton, a permissionless blockchain for institutional finance, is collaborating with Chainlink in a strategic partnership that will integrate Chainlink’s Data Streams, SmartData, and cross-chain interoperability protocol, and join the Chainlink Scale program.
The incorporation of data streams and CCIP, among other solutions, will significantly aid in boosting the Canton Network’s adoption by institutions, as mentioned in a blog post. Chainlink (LINK) has established a substantial presence in the decentralized finance market, with its total value secured exceeding $100 billion, while it has facilitated over $25 trillion in transaction value.
Canton Network’s participation in the Chainlink Scale program allows it to extend the oracle network’s services to institutions, delivering key advantages like efficient and secure integration. Additionally, Canton aims to leverage Chainlink to promote the adoption of tokenized assets, stablecoins, payments, and digital identity within its network.
“By bringing its community and solutions to Canton, Chainlink not only enhances our governance and resilience but also increases opportunities for innovators across both traditional and decentralized finance,” stated Yuval Rooz, chief executive officer of Digital Asset.
Adoption by Major Banks and Financial Institutions
Canton Network includes prominent banks and financial leaders among its participants, such as BNP Paribas, HSBC, Bank of America, Bank of China, Banco Santander, Morgan Stanley, SBI Digital Asset Holdings, and Nasdaq.
The blockchain manages approximately $280 billion in daily repos and operates within an ecosystem of over 500 validators, including 30 designated super validators.
Among these is Chainlink Labs, which contributes its widely embraced infrastructure—already integrated by Swift, Mastercard, Fidelity International, Euroclear, UBS, and ANZ, as well as leading DeFi protocols Aave and GMX—into the network.
