Canton Network integrates Chainlink to bolster institutional adoption

Canton Network has integrated with Chainlink, tapping into the oracle platform’s solutions to accelerate institutional adoption.

Canton, a permissionless blockchain for institutional finance, is joining forces with Chainlink amid a strategic partnership that will see it adopt Chainlink’s Data Streams, SmartData and cross-chain interoperability protocol, as well as join the Chainlink Scale program. 

The platform’s integration of data streams and CCIP among other solutions will help bolster overall adoption of the Canton Network by institutions, the team said in a blog post. Chainlink (LINK)’s footprint in the decentralized finance market has seen its total value secured surpass $100 billion, while its network has powered over $25 trillion in transaction value.

Canton Network’s move to join the Chainlink Scale program enables it to bring the oracle network’s services to institutions, with key benefits including cost-efficient and secure integration. As for expansion, Cantom says it includes leveraging Chainlink to advance adoption of tokenized assets, stablecoins, payments, and digital identity on the Canton Network.

Adoption by large banks and financial institutions

Canton Network counts major banks and financial heavyweights among its participants, including BNP Paribas, HSBC, Bank of America, Bank of China, Banco Santander, Morgan Stanley, SBI Digital Asset Holdings, and Nasdaq.

The blockchain processes roughly $280 billion in daily repos and runs on an ecosystem of more than 500 validators, including 30 designated super validators.

One of those, Chainlink Labs, brings its widely adopted infrastructure—already integrated by Swift, Mastercard, Fidelity International, Euroclear, UBS, and ANZ, as well as top DeFi protocols Aave and GMX—to the network.