Chainlink Joins Forces with Canton’s Institutional Blockchain for Enhanced Connectivity

The Canton Network, an institutional blockchain backed by major financial and technology players, has expanded its collaboration with Chainlink, a leading decentralized oracle provider. The integration aims to bolster trust and interoperability for institutional-grade blockchain applications, signaling growing momentum in mainstream adoption of blockchain technology across traditional finance and DeFi sectors.

• Chainlink integrates with Canton Network to provide secure data feeds and cross-chain interoperability for institutional use.
• The Canton Network supports over $6 trillion in assets, with backing from giants like Microsoft, Goldman Sachs, and BNP Paribas.
• Chainlink’s role as a super validator enhances governance, resilience, and scalability within the network.
• Recent developments include increased global financial institution participation and expanding blockchain initiatives across markets.
• The partnership indicates a broader shift towards integrating blockchain within mainstream financial services and tokenization efforts.

Chainlink has announced a strategic integration with the Canton Network, a sophisticated institutional blockchain platform supported by a consortium of global banks, technology firms, and financial institutions. This move aims to accelerate the adoption of blockchain technology within regulated and enterprise environments by enabling trusted data feeds and seamless interoperability across domains.

The collaboration introduces Chainlink’s suite of services—such as data streams, smartdata including proof of reserve and NAVLink, and the cross-chain interoperability protocol (CCIP)—onto the Canton Network. Additionally, the network has joined the Chainlink Scale program, which fund operations for oracles, further strengthening its infrastructure.

As part of the partnership, Chainlink Labs will serve as a Canton Network “super validator,” operating a critical node that combines domain validation and network synchronization. This setup allows for efficient management and ordering of cross-domain transactions, fostering trust and interoperability among different blockchain segments.

Yuval Rooz, CEO of Digital Asset, the developer behind Canton, expressed optimism: “Chainlink enhances our governance and resilience, opening new avenues for innovation in both traditional and decentralized finance sectors.”

Chainlink co-founder Sergey Nazarov underlined the potential for large-scale applications: “This collaboration paves the way for real-world use cases that unify traditional capital markets with decentralized finance.”

The Canton Network, launched in May 2023, is designed for institutional applications like tokenization and large-scale financial transactions. It has garnered support from industry giants such as Microsoft, Goldman Sachs, BNP Paribas, and Cboe Global Markets. The network’s governance body, previously known as the Global Synchronizer Foundation, was renamed the Canton Foundation, with Chainlink and other major validators onboard.

The integration comes amid a significant boost in blockchain adoption by financial institutions. Since its inception, the Canton Network has processed over $6 trillion in real-world assets and handles approximately $280 billion in repurchase agreements daily. Its network of 500 validators, including more than 30 super validators, underscores its expanding influence.

Recent notable developments include P2P.org’s role as a validator, alongside the backing of major banks like BNP Paribas and HSBC, highlighting ongoing institutional interest in blockchain infrastructure. This aligns with broader industry trends, as firms like Ripple and Securitize integrate stablecoins as off-ramps for tokenized assets, signaling a shift toward broader mainstream acceptance of crypto-powered financial products.

Other blockchain initiatives are also gaining momentum, with Fnality raising over $130 million from prominent banks and Kazakhstan’s central bank trialing a stablecoin backed by the national currency on Solana and Mastercard. These efforts underscore a rapidly evolving landscape where traditional finance, DeFi, and blockchain intersect to foster innovation and regulatory progression.

This article was originally published as Chainlink Joins Forces with Canton’s Institutional Blockchain for Enhanced Connectivity on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.