Interstice Digital and FalconX launched a non-hosting trans-chain engine linking Canton Network, Ether, Solana and Robinhood Chain. The product is intended to make the monetized assets on Canton more accessible to the public chain, while avoiding the Platform ' s proxy user assets.
Connecting institutional and public chain mobility
Interstice states that the engine allows the user to complete the asset exchange between the four networks and that the platform itself does not host funds or perform transactions on behalf of the user as an agent. FalconX provides liquidity support for cross-chain conversion.
In recent years, Canton has taken over the main institutional scene, including monetization of national debt, stabilization of currency settlements and institutional collateral transactions. Interstice's access this time to Ether, Solana and Robinhood Chain means that this network for institutional use is beginning to connect more to the depth of the open market assets and transactions.
Interstice also stated that the product was listed as Featured App in Canton. However, the company did not disclose the first supporting specific assets and did not disclose current transaction volume data.
Increase in institutional applications in Canton in recent months
Canton is positioned as a public chain oriented towards capital markets, emphasizing privacy and control of authority, and suitable for a regulated trading landscape. In the recent past, the frequency of use of the network in bond, currency stabilization and settlement operations has increased.
Earlier in August, four companies under the Mitsubishi UFJ financial group launched a concept validation to test the possibility of automated processing and round-the-clock real-time settlement of domestic debt buy-back transactions on Canton. Participants also included Digital Assembly and Promatt.
Earlier, the Japanese Securities Clearing Agency, Seoki Finance Group, Nomura Holdings, and others had tested the bookkeeping and rights processing related to Japanese debt to assess whether it could be completed through Canton under the existing legal framework.
Currencyization of National Debts and Stability Currency Settlement Extension
In July, Tradeweb stated that it had completed a chain-based United States debt deal. In the transaction, Franklin Templeton transferred the United States Treasury debt to Virtu Financial and delivered it in cash. The company asserted that Canton had achieved real-time synchronization between the two types of asset.
The transaction was described as the first real-time currency sale of United States Treasury bonds settled in USDCx. USDCx is a stable currency issued on Canton and supported by USDC. The deal was also attended by the Bank of France, Digital Assembly and Blockdaemon.
Visa is also testing the stable currency clearing capacity of the network. The company tested a private stabilization currency settlement based on Canton in June and subsequently included Canton on the block chain list supported by its stabilization currency settlement plan.
Digital Assembly continues to expand its ecology
The Digital Assembly behind Canton completed $355 million in financing in June of this year with a16z crypto. Participants also included such institutions as Citadel Securities, Apollo, BNP Paribas, Coinbase Ventures, HSBC and Abu Dhabi Investment Authority.
Digital Assembly indicated that the funds would be used for cooperation, acquisition and the ecological expansion of Canton. Prior to this, the company had completed a $135 million round of strategic financing with investments from Goldman Sachs, DTCC, Tradeweb Markets, etc.
In terms of current developments, the new products of Interstice are more like a step forward for Canton to external liquidity. Whether or not it can form the scale of actual transactions will continue to depend on the extent of support assets, institutional access and the growth of cross-chain demand.