- Global Settlement Network will join the Canton Network as both a validator and a featured application, joining Visa, Goldman Sachs, Microsoft and 800 others.
- It will also deploy its GSX ID credentials platform on Canton, enabling participants to ditch repeated compliance checks.
Canton Network has added enterprise blockchain infrastructure firm Global Settlement Network (GSN) as a validator to expand its identification and credentials offering.
GSN offers blockchain services to financial institutions and governments, targeting digital currency issuance, cross-border settlement and tokenization of real-world assets. It joins as a validator and a featured application.
GSN joins some of the most renowned companies as a validator on Canton. These include Citi, Binance US, Gemini, Commerzbank and Bitcoin Suisse. Validators connect to the network to only validate the transactions they are party to; they do not get access to the full ledger. They also run smart contract apps.
Super validators have extra duties, including running the network’s Global Synchronizer, which is its consensus layer. They also get a vote on governance decisions like tokenomics and protocol upgrades. Super validators include DTCC, Nasdaq, Taurus, Goldman Sachs, HSBC, BNP Paribas and Changpeng Zhao’s family office, YZi Labs. Visa also became a super validator last month.
GSN Brings Compliant Credentialing to Canton Network
As part of the partnership, GSN has deployed its GSX ID on Canton. GSX ID is a credentialing layer that provides decentralized identity solutions such as issuance of credentials, authentication and identity management.
GSN cofounder Kyle Sonlin says the partnership is a significant step towards “making existing systems interoperable and compliant by default.”
He added:
Right now, institutions are repeating the same verification process every time they transact. That simply doesn’t scale, and it’s one of the main reasons tokenized markets haven’t reached their full potential. GSX ID changes that by allowing compliance to move with the participant, rather than sitting separately from it.
GSN will bring with it a set of partners that have relied on its GSX ID to solve identity, risk and distribution with a single product. One of these is Texture Capital, an American broker-dealer that uses GSX ID to offer investors and issuers compliant access to tokenized offerings. Black Manta Capital will tap GSX ID to extend these offerings into Europe.
Black Manta Capital’s Alexander Rapatz commented, “Tokenized markets are global, but compliance frameworks remain fragmented. Connecting these through shared credentialing infrastructure is key to unlocking cross-border participation at scale.”
CC Price Struggles Despite Wall Street Dominance
The new partnership comes at a time when Canton Network continues to expand its dominance in regulated finance. Earlier this month, Europe’s largest bank, HSBC, conducted a tokenized deposit pilot on Canton, the first time it has experimented with a public blockchain for its tokenized deposit service.
This year, Canton has announced new partnerships with major global companies, including JPMorgan, Fireblocks and Visa. It now processes over $9 trillion monthly for some of the largest banks and financial institutions, making it the outright leader in regulated blockchain finance.
This dominance has not translated to its native token, CC, which continues to trade sideways. In the past month, it has only gained 1.8%; Bitcoin has gained 15%, while others like Algorand and Zcash have surged over 30%.
