BNP Paribas and HSBC have joined the Canton Foundation and its initiative to pursue the tokenization of assets.
The two big banks are joining other well-known members, including Goldman Sachs, HKFMI, and Moody’s.
Founded in 2024, the Canton Network is a permissioned blockchain that provides on-chain privacy with the movement of assets and capital on decentralized rails. The network reports over $3.6 trillion in tokenized assets on-chain.
Melvis Langyintuo, executive director of the Canton Foundation, said the addition will strengthen governance and the strategic direction of the entity.
Hubert de Lambilly, Head of Global Markets Continental Europe, Middle East and Africa at BNP Paribas, said by joining they were highlighting their ongoing commitment to digital transformation and blockchain technology.