Interstice Digital, in collaboration with FalconX, has launched a cross-chain swap engine connecting the Canton Network with Ethereum, Solana, and Robinhood Chain.
According to Tuesday's announcement, the non-custodial engine allows for the exchange of assets across the four networks without transferring assets into Interstice's custody or conducting transactions on behalf of users.
FalconX, a leading digital asset broker for institutional investors, provides liquidity for the engine. It connects the institutional markets of Canton with assets and trading activity in public blockchains, enabling users to move tokenized assets between Canton and networks like Ethereum and Solana.
Canton is a public blockchain for the institutional financial market. The network utilizes privacy and permissioning mechanisms for regulated transactions and tokenized assets. Its ecosystem includes major financial institutions such as JPMorgan, Goldman Sachs, and BNP Paribas.
Interstice is a fully owned subsidiary of Everyrealm, backed by investors including a16z Crypto, Coinbase Ventures, Galaxy, and Brevan Howard. The company has not disclosed which assets are supported at launch, nor has it revealed the transaction volume processed through the swap engine.
Related: FalconX Cuts 10% of Staff Amid Prolonged Crypto Market Slump: Report
Canton Expands Activity in Institutional Tokenization
The integration coincides with a growing number of traditional financial institutions using Canton for asset tokenization and blockchain-based settlement.
In July, electronic trading platform Tradeweb conducted an on-chain U.S. Treasury transaction where Franklin Templeton transferred a tokenized treasury security to Virtu Financial in exchange for tokenized cash.
Tradeweb facilitated trade execution and price discovery, while Canton synchronized the settlement between the two assets in real-time. Tradeweb stated this was the first real-time buy-sell transaction of tokenized U.S. Treasuries settled in USDCx—a USDC-backed stablecoin issued on Canton. Other participants included Societe Generale, Digital Asset, and Blockdaemon.
Societe Generale has also issued its euro and dollar-denominated stablecoins on Canton for tokenized collateral, repo financing, and institutional settlements. Visa tested settlements using a private stablecoin on the network.
Other initiatives include a pilot for using Japanese government bonds as collateral involving Mizuho and Nomura, as well as the listing of the S&P Dow Jones Indices iBoxx US Treasuries index on Canton.
A PoC pilot for managing digital collateral using Japanese government bonds. Source: JPX
Magazine: Solana Fee Revamp Accelerates Token Burning and Raises Costs for Active Users
end-content
