Canton Network has incorporated Chainlink SmartData and related interoperability solutions into its infrastructure offering, with the aim of supporting institutional tokenization. This development adds standardized data feeds and cross-chain functionality to the Canton Network ecosystem.
Integration of SmartData Services
Canton Network has been using Chainlink’s SmartData solutions, such as Net Asset Value (NAV) and Assets Under Management (AUM), which are data feeds intended to offer standardized and verifiable financial information for on-chain applications.
SmartData is developed to meet the institutional needs of providing structured and compliant data that can be integrated into tokenized asset platforms and financial products.
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Data Streams and Market Coverage
As a part of the integration, the Canton Network will also make use of Chainlink Data Streams, which include support for 24/5 equity data. Data Streams are designed to provide low-latency market data that can be used for trading, settlement, and risk management purposes.
The availability of accurate off-chain market data is viewed as a crucial element for tokenized securities and other real-world asset (RWA) use cases built on blockchain infrastructure.
Proof of Reserve and Transparency
Canton Network is also integrating the Proof of Reserve solution from LINK. This solution allows for the on-chain verification of asset backing, which in turn helps to verify that the assets are backed by reserves.
The Proof of Reserve solution is commonly used in tokenization platforms to increase transparency and offer verifiable assurances to third parties.
CCIP and Interoperability
The integration also involves the use of Chainlink’s Cross-Chain Interoperability Protocol (CCIP), which enables communication and the transfer of value across various blockchain networks.
Interoperability is considered an essential element in the development of institutional-level blockchain networks, especially where multiple blockchains and financial systems interact.
With the integration of CCIP, the Canton Network has enhanced its interoperability capabilities with other blockchain environments.
Institutional Tokenization Focus
Canton Network has been positioning itself as infrastructure that is suited for institutional participants, especially in the tokenized asset and capital markets sector. The integration of LINK’s data and interoperability solutions is part of this effort to deliver compliant and scalable blockchain solutions.
This partnership is part of the industry’s efforts to integrate blockchain-based settlement infrastructure with reliable external data sources and cross-chain solutions.
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