BitGo, a provider of digital asset infrastructure, has announced it will now support custody for Canton Coin (CC), the native token of the Canton Network. This connection enables regulated institutions in the US to safely and legally handle Canton Coin through one of the largest qualified custodians in the business. 

BitGo is known for its secure cold storage solutions and assets backed by insurance. This makes its backing important for institutions to start using new digital assets.

The Canton Network’s History

The Canton Network is meant to integrate regulated businesses into the blockchain world. This will make it easier for financial apps and tokenized assets to work together while still following the rules. 

The network has seen increased activity and backing from major banks since it began in 2023. It focuses on turning real-world assets (RWAs) into tokens and making sure they can be used on-chain in a legal way.

Strategic Partnerships and Interest from Institutions

Participation by institutions in the Canton Network has grown rapidly, with major companies such as Goldman Sachs, JPMorgan, Bank of America, and Citigroup joining. BNP Paribas and HSBC, two of the world’s biggest banks, have also joined the Canton Foundation to help promote the use of blockchain technology that is specifically designed for businesses. 

The agreement with BitGo further strengthens this infrastructure by providing institutions with safe ways to store their assets. The addition of Canton Coin to BitGo’s custody services comes at a time when more people are interested in tokenized RWAs. 

According to industry estimates, the total value of tokenized RWAs, not including stablecoins, is already over $35 billion. These assets include private credit, U.S. Treasury debt, private equity, and stocks. 

This shows that blockchain-enabled financial instruments are being used in an increasing number of ways. The partnership supports a bigger goal of making tokenized assets easier to use and safer for people who trade in regulated markets.

What BitGo Does and What It Might Do in the Future

BitGo is one of the biggest custodians in the crypto sector, with about $90 billion in assets under its care. It keeps adding to its institutional solutions. The company just filed for an initial public offering (IPO) in the US, which shows how much it has grown and how important it is becoming. 

Adding support for Canton Coin is part of BitGo’s goal to provide the infrastructure that helps institutions adopt new digital assets. BitGo’s addition of Canton Network’s native token to its custody services is a big step toward more institutions using the service. 

BitGo’s secure custody solutions and Canton’s compliant blockchain ecosystem work together to make it safer and easier for regulated institutions in the U.S. to access tokenized real-world assets. This encourages innovation and confidence in the changing digital financial sector.