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The institutional blockchain has reached more than 500K daily transactions, with major banks and U.S. crypto exchanges fueling unprecedented growth.
By Will Canny, AI Boost|Edited by Stephen Alpher
Oct 1, 2025, 4:40 p.m.
- Canton Network has surpassed 500,000 daily transactions, Copper Research said.
- Major banks like Goldman Sachs, HSBC and Broadridge are driving adoption, alongside U.S. exchanges including Binance U.S., Crypto.com, Gemini and Kraken.
- A potential exchange listing of Canton’s token would mark the first for a permissioned blockchain backed by leading global financial institutions, the report said.
Copper Research says usage of the Canton Network, a blockchain built for regulated finance, has quietly surged, with validator activity now including major U.S. exchanges alongside banks and infrastructure firms.
Just over a year after launch, Canton has reached a scale unmatched by prior institutional blockchains, thanks to backing from Goldman Sachs (GS), HSBC (HSBC)and Broadridge (BR), the crypto custody firm said in a Wednesday report.
STORY CONTINUES BELOW
The report noted that Broadridge alone processes more than $5.9 trillion monthly in tokenized U.S. Treasury repos on the network.
Exchanges including Binance U.S., Crypto.com and Gemini (GEMI) are also running validators, while Kraken has signaled a possible listing of Canton’s token. Though no exchange has confirmed plans, Copper said that such a listing would be unprecedented for a permissioned blockchain backed by major financial institutions.
Network activity is also accelerating. Canton recorded more than 500,000 daily transactions by September’s end, more than USDC and USDT transfers combined in the same period and approaching Ethereum’s volumes. Copper Research stressed that this activity is already driven by live institutional applications, not pilots.
According to the analysts, favorable regulation and Canton’s privacy-focused, interoperable design make it well-suited for shared institutional platforms.
Versana, backed by JPMorgan (JPM) and Wells Fargo (WFC), now has seven global banks sharing syndicated loan data, while Goldman Sachs’ DAP has supported tokenized bond issuances.
This institutional adoption is what sets Canton apart, the report added.
Read more: Chainlink Chosen by Privacy-Focused Blockchain Canton to Push Institutional Adoption
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
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