Two major global banks—BNP Paribas and HSBC—have joined the Canton Foundation, the organization focused on the development of the Canton network, which specializes in tokenization, highlighting institutional interest in the real-world asset applications of blockchain technology.
The foundation announced on Tuesday that BNP Paribas and HSBC have now become members, joining recently added Goldman Sachs, Hong Kong FMI Services, and Moody's Ratings. The Canton Foundation has over 30 members, providing governance and strategic guidance for the network while advancing blockchain-based financial use cases.
The Canton network is a blockchain specifically designed for institutional finance, with a core focus on the tokenization of real-world assets (RWA), regulatory compliance, and interoperability.
Hubert de Lambilly, head of global markets at BNP Paribas, stated that this move reflects the bank's commitment to adopting distributed ledger technology "to serve our evolving client needs."
BNP Paribas's participation builds on its previous support for Digital Asset, the company behind the Canton network. The French bank participated in Digital Asset's $135 million funding round, which the company stated would accelerate institutional adoption and decentralized finance initiatives on Canton.
John O'Neil, head of digital assets and currencies at HSBC, noted that joining the foundation would help promote the maturity of the blockchain industry and support the creation of real liquidity in the digital asset market.
HSBC has been active in various blockchain initiatives, with reports indicating that the bank is preparing to apply for a stablecoin license under Hong Kong's new regulatory framework. According to previous disclosures, HSBC Hong Kong is also exploring the application of blockchain in custody, tokenization, and bond issuance.
Institutional demand for the tokenization of real-world assets is shaping the narrative of cryptocurrency in 2025, contrasting sharply with the earlier bull market cycles of 2017 and 2021, which were dominated by retail speculation.
The World Economic Forum (WEF) recently highlighted this trend, noting that the industry now benefits from a unique combination of efforts by institutions, regulators, and technology companies to "build a trusted, interoperable framework." The WEF stated that if successful, this collaboration could realize the long-promised potential of asset tokenization.
Regulation also plays a decisive role. In the U.S., the passage of the GENIUS Act focused on stablecoins, along with the House's approval of market structure and anti-CBDC bills, has bolstered the confidence of major financial institutions exploring blockchain adoption.
So far, tokenization efforts have primarily focused on private credit markets and government bonds. However, the scope is expanding, with experiments underway in equities, commodities, and energy infrastructure.
As Cointelegraph recently reported, the digital asset exchange Kraken has engaged with the U.S. Securities and Exchange Commission (SEC) cryptocurrency working group to discuss tokenization, highlighting how the future of the industry is increasingly intertwined with regulatory dialogue.
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Original: “HSBC and BNP Paribas Support Canton Foundation's Push for Institutional Tokenization”
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