Blockchain technology provider Digital Asset has announced new strategic investments from BNY, iCapital, Nasdaq, and S&P Global. In a press release, the firm describes the new partnerships as an acceleration of the convergence between traditional finance (TradFi) and decentralised finance (DeFi) towards an “Allfi” future.
The investments reflect “growing institutional alignment” behind Digital Asset’s Canton Network, a public, permission-less blockchain targeted at major financial organisations and designed to “support hundreds of billions of dollars in onchain real-world assets”. With the new partnerships, decentralisation can be carried out with “the privacy, legal certainty, and regulatory compliance required by global markets”.
Canton network currently supports a wide variety of use cases, including bonds, equities, money market funds, alternative investment funds, commodities, repos, mortgages, life insurance, and annuities. It hosts more than 600 institutions with more than US$6 trillion in assets onchain.
Digital Asset CEO Yuval Rooz says, “Institutions across the financial ecosystem recognise the necessity of blockchain infrastructure purpose-built for regulated markets.” He believes that the partnerships reinforce “the inevitability of interoperable, privacy-enabled markets operating at global scale”.
