P2P.org has become a validator for the Canton Network, a platform designed for institutional finance, managing over $4 trillion in tokenized assets. As a validator, P2P.org will run nodes responsible for verifying and recording transactions on the network.
Canton launched in May 2023, specifically designed for regulated institutions, focusing on the tokenization of real-world assets (RWA), interoperability, and compliance standards.
This addition makes P2P.org one of the participants in the Canton ecosystem. P2P.org is a staking service provider managing over $10 billion in assets across more than 40 blockchain networks. Other members include Goldman Sachs, JPMorgan, Citi, Santander, Bank of America, HSBC, and BNP Paribas.
According to P2P.org product manager Jonathan Reisman in an interview with Cointelegraph, many blockchains are not designed with institutional needs in mind, which affects the adoption speed of traditional finance.
P2P.org product manager Jonathan Reisman stated that solutions like the Canton Network "enable enterprises to enter an ecosystem where asset tokenization, secure trading, and even innovations like Bitcoin-backed assets can be developed according to institutional standards."
Jonathan Reisman added, "Validators only handle transactions they participate in and maintain them on their own ledgers, which makes privacy protection more straightforward and better suited for institutional use."
In most proof-of-stake blockchains, validators secure the network by staking tokens and earn rewards. This means validators earn returns by locking up crypto assets.
This year, staking has become one of the mainstream trends in the industry, with institutions actively participating in public chain networks like Ethereum (ETH).
Unlike the traditional proof-of-stake model where validators are paid through staking rewards, the Canton Network issues a native token, Canton Coin, with a reward mechanism tied to participants' actual contributions in the network. Infrastructure providers receive 35% of the allocation, application developers receive 50%, and users receive 15%.
Canton states that this design aims to directly link rewards to actual usage and participation in the network. Each application can also independently set its openness and confidentiality.
Similar to Canton, an increasing number of protocols are building blockchain infrastructure to meet institutional needs. In February of this year, Lido launched the v3 upgrade, introducing the "stVaults" modular contract to meet the growing demand from institutions for more control and compliance features.
Recently, Anchorage Digital added institutional custody and staking services for Starknet's STRK token, with an initial annual yield of 7.28%.
Recent developments in U.S. regulation have driven an increase in investor demand for crypto yields.
In August, the U.S. Securities and Exchange Commission (SEC) released new guidance on liquid staking, allowing investors to deposit crypto assets with service providers and receive "voucher tokens" that can be traded or used in decentralized finance (DeFi), while the assets remain staked.
The SEC stated that under certain conditions, these voucher tokens do not constitute securities offerings. Industry executives believe this decision is beneficial for the development of DeFi and institutions.
Related: Cryptocurrency exchange Bullish rises due to better-than-expected earnings in the second quarter.
Original article: “P2P.org Becomes Validator for $4 Trillion Canton Network”
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