Wall Street-backed blockchain Canton Network expands footprint in Korea
Many crypto projects have sought to bring traditional finance onto blockchain, but few have gained as much traction as Canton Network, a privacy-focused blockchain for institutional finance. Already embraced by financial heavyweights such as Goldman Sachs, BNP Paribas and the London Stock Exchange Group, Canton is facilitating more than $300 billion in daily value transfers while deepening its…
Canton Network, a blockchain platform favored by financial institutions, is rapidly expanding its reach in South Korea. The privacy-focused protocol, which has already secured backing from Wall Street giants like Goldman Sachs and BNP Paribas, is facilitating daily transactions of over $300 billion.
Yuval Rooz, co-founder and CEO of Digital Asset, the entity behind Canton Network, believes Korea is on the verge of becoming a significant player in global finance. This prediction is based on the country's tech-savvy population and increasing interest from financial institutions.
Rooz expressed optimism in an interview with The Korea Times, stating that once regulatory frameworks are established, the Korean market will be primed to adopt blockchain technology. He contrasted this with other regions where markets may be well-regulated, but the technology and customer base are not yet ready.
Korean financial institutions are already broadening their use of Canton Network, signaling a strong alignment between the country's financial sector and this innovative blockchain solution.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
