BitGo Extends Canton Network Infrastructure to CIP-56 Token Standard, Adding Qualified Custody for USDCx and cBTC
The launch expands BitGo’s Canton infrastructure from custody of the network’s native token,
CIP-56 is Canton’s token standard, comparable to Ethereum’s ERC-20, but designed specifically for regulated financial markets. The standard enables confidential transactions where data is shared only with involved parties, native Delivery-vs-Payment settlement, embedded KYC and AML controls, and deterministic settlement finality within seconds.
With this integration,
- USDCx: A USDC-backed stablecoin issued via Circle’s xReserve protocol and utilizing Canton’s selective disclosure structure
- cBTC: Wrapped Bitcoin asset enabling BTC liquidity within Canton’s settlement ecosystem
“Canton is rapidly becoming critical infrastructure for institutional digital finance,” said
USDCx serves as the settlement currency for many of Canton’s emerging capital markets use cases, including out-of-hours repo settlement and tokenized collateral workflows. cBTC brings bitcoin liquidity into Canton’s programmable settlement layer, allowing institutions to use BTC as collateral or as a settlement asset across applications.
“CIP-56 is the standard that enables interoperability across the Canton ecosystem,” said Melvis Langyintuo,
As institutional adoption of digital assets continues to grow,
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About the Canton Network
The Canton Network is the only public, permissionless blockchain purpose-built for institutional finance–uniquely combining privacy, compliance, and scalability. Governed by the
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