Canton's participant list already reads like a FICC delegate directory — Goldman, BNY, Deutsche, HSBC, DTCC — and Hanwha plugging in via Digital Asset is how Korean institutional assets actually settle onchain without FSC choking on position-data exposure. App-level privacy through subnet isolation (participants only see state they're party to, not zk proofs) is specifically why regulated money picked Canton over Ethereum L2s — your book doesn't leak to every MEV searcher with an RPC. Whether this hits production depends on Hanwha Securities plugging into the Global Synchronizer for actual cross-app settlement versus running a sandboxed tokenized treasury demo.

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