Swiss crypto bank Amina has announced the addition of custody and trading support for Canton Coin, marking it as the first regulated bank to offer services for the token associated with the Canton Network. According to Cointelegraph, this development provides clients with regulated access to the Canton Network, a public blockchain tailored for capital markets and tokenized finance. The network, developed by Digital Asset, is supported by major entities including the Depository Trust & Clearing Corporation, Visa, BitGo, Goldman Sachs, and Citadel.
This strategic move enables institutional clients to hold and trade Canton Coin through a platform regulated by the Swiss Financial Market Supervisory Authority (FINMA), rather than depending on a crypto-native exchange or custodian. This could potentially benefit companies utilizing Canton for tokenization and settlement processes. The announcement is part of Amina’s broader initiative to expand its presence in the tokenized finance infrastructure. Earlier in March, the bank, based in Zug, Switzerland, became the first regulated banking participant on the EU-regulated blockchain securities platform 21X, which operates under the bloc’s DLT pilot regime for tokenized securities markets.
The Canton Network is establishing itself as a blockchain infrastructure for traditional financial institutions, focusing on tokenized assets, settlement, collateral management, and repo markets. The Canton Coin token is currently valued at approximately $0.15, with a total market capitalization of $5.7 billion, as reported by CoinMarketCap. In April, BitGo extended its Canton Coin services beyond custody to include trading and on-chain settlement, thereby enhancing institutional access to the network’s token and related financial activities. Additionally, S&P Dow Jones Indices has recently integrated its US Treasury Index benchmark onto the Canton Network, enabling institutions to access fixed-income benchmark data through tokenized infrastructure.
Canton faces competition from several enterprise blockchain networks targeting institutional finance. Notable among these is R3’s Corda, designed for banks and regulated financial markets with a focus on privacy and permissioned transactions. Another competitor, Hyperledger Fabric, has gained widespread adoption in enterprise blockchain environments, particularly among financial institutions and large corporations.
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