Goldman Sachs and Microsoft Join Digital Asset’s Corporate Blockchain

The U.S.-based Digital Asset, which specialises in institutional solutions, announced the launch of Canton Network, a privacy-focused blockchain.

We’re excited for @CantonNetwork, the industry’s first privacy-enabled interoperable blockchain network designed for institutional assets and built to unlock the potential of synchronized financial markets. #PowerfulConnections https://t.co/rlfKxyRLLT pic.twitter.com/Ha48jGUquo

— Digital Asset (@digitalassetcom) May 9, 2023

Participants will include: Goldman Sachs, Moody’s, DRW, Microsoft, BNP Paribas, Cboe Global Markets, Cumberland, Deloitte, Deutsche Börse Group, Paxos, S&P Global, SBI Digital Asset Holdings and other major market participants.

The new system is designed to provide “seamless communication between different blockchains in the industry” and to be “a building block for the future infrastructure of digital and distributed financial markets.”

Testing of distributed-ledger technology capabilities across various applications and use cases will begin in July.

In the spring of 2021 Digital Asset raised $120 million as part of a Series D financing round.

One of the company’s main products is the open-source DAML smart-contract language, which runs on both blockchains and centralized databases.

In April, the French bank Societe Generale-Forge released a euro-pegged stablecoin — EUR CoinVertible, available only to qualified institutional clients. The new development drew a wave of negativity in the crypto community.