Canton

Digital Asset, led by CEO Yuval Rooz, is the main developer of the Canton protocol and the Daml language. It raised $135 million in June 2025 in a round led by DRW and Tradeweb, with Goldman Sachs, Citadel Securities, DTCC and BNP Paribas. The Global Synchronizer and Canton Coin code is published as Splice on GitHub under the Apache-2.0 licence. Governance runs through the Canton Foundation, renamed from the Global Synchronizer Foundation in September 2025, with DTCC and Euroclear as co-chairs. Changes go through Canton Improvement Proposals approved by Super Validators; more than 100 have been filed. A 5% Development Fund had approved 42 projects by August 2026.

• Canton blockchain developer Digital Asset raises $135 million in Goldman Sachs-backed round (The Block)
• canton-network/splice (GitHub, Apache-2.0)
• canton-foundation/cips: Canton Improvement Proposals (GitHub)
• DTCC and Digital Asset Partner to Tokenize DTC-Custodied U.S. Treasury Securities on the Canton Network
• Protocol Development Fund: The First Report (Canton Foundation)

Canton has one of the strongest institutional bases among crypto networks. Major financial firms back the developer, and DTCC, Nasdaq, Visa and YZi Labs have been admitted as Super Validators, with their reward weight held in escrow until milestones are met. Canton Strategic Holdings, a Nasdaq-listed company formed through a $545 million private placement in November 2025, aims to acquire and hold CC and is approved as a Super Validator. There was no token sale to investors: CC is minted only as rewards for running infrastructure and applications. Reward weight is fairly spread: Digital Asset's nodes hold about 8.5% and the ten largest beneficiaries about 34.5%.

• canton-foundation/configs: MainNet approved-sv-id-values.yaml (Super Validator reward weights)
• Canton Strategic Holdings, Inc.: Form 8-K, Exhibit 99.1
• CIP-0109: Visa Super Validator Participation

CC has no maximum supply. Up to 100 billion CC can be minted in the first ten years: 10 billion a year until year 5, then 5 billion a year to year 10 and up to 2.5 billion a year after. About 39.7 billion CC circulated on 27 September 2026, so the current allowance could add roughly a quarter of supply each year. Fees are set in dollars and paid by burning CC, and the design aims for burn and minting to balance over time. Super Validators changed the rules often in 2025–2026: they removed transfer fees, created a 5% development fund, ended liveness rewards, capped app rewards at $1.50 per transaction after reward farming, and added a programme that grants weight to companies holding CC.

• Canton Coin: A Canton-Network-native payment application (Digital Asset, July 2024)
• Canton (CC): CoinGecko API
• CIP-0098: Cap Per-Transaction Application Rewards at $1.50
• canton-foundation/cips: Canton Improvement Proposals (GitHub)

The network carries real financial activity. Broadridge's repo platform on Canton processed an average of $280 billion a day in August 2025, and DTCC planned a first stage of tokenised Treasuries on Canton in the first half of 2026. The Canton Foundation reports 59 Super Validator nodes and 756 validators; the MainNet configuration lists 13 approved Super Validator identities. CC's role in this activity is indirect: it pays for network traffic and rewards operators, and no data link the repo volume to CC fees. The privacy design means validators see only their own transactions, which limits public usage data. No security audit of the core protocol was found.

• $280 Billion in Average Daily Processed Trade Volumes on Broadridge Distributed Ledger Repo Platform (Broadridge)
• Canton Foundation
• canton-foundation/configs: MainNet approved-sv-id-values.yaml (Super Validator reward weights)
• DTCC and Digital Asset Partner to Tokenize DTC-Custodied U.S. Treasury Securities on the Canton Network