Texture Capital is launching a node on the Canton Network for institutional assets. One of Texture’s subsidiaries holds a U.S. license as an alternative trading system (ATS), which means it can support the secondary trading of digital assets on the Canton Network, a public permissoned network. The ATS will go live in Q1 of this year.
Over 30 institutions are live on the Canton Network. Several are high frequency traders or prime brokers, such as DRW Cumberland and Hidden Road, and quite a few are technology or custody firms. But the network also includes high profile traditional finance (TradFi) firms such as Broadrige, Calastone, Cboe Global Markets, Equilend and TradeWeb Markets. Broadridge’s DLR for repo is one of the largest DLT platforms in production, processing $1.5 trillion in transactions per month.
The wider Canton ecosystem includes several banks and exchanges that use Digital Asset’s Canton technology, even if they are not validators on the network. Canton underpins BNP Paribas’ Neobonds, Deutsche Börse’s D7, Goldman Sachs’ GS DAP and HSBC’s Orion.
Already Digital Asset has announced a few deals this year. Two weeks ago it unvelied a Canton collaboration with derivatives firm QCP. Together they aim to provide a tokenized collateral solution for bilateral derivatives trading.
Tokenized money market fund startup, Hashnote, was recently acquired by Circle, which now plans to launch a native version of the USDC stablecoin on the Canton Network. Hashnote was already live on Canton, and was incubated by DRW Cumberland. DRW was also the founder of Digital Asset.
Texture Capital
Meanwhile, apart from providing a trading venue, one of Texture Capital’s subsidiaries also provides transfer agent services. The company offers white-labeled secondary market services to various primary tokenization issuance platforms. For example, it recently signed a deal with Digishares, which plans to enable its issuers to list security tokens on its branded RealEstate.Exchange (RE.X), a secondary trading venue to be operated by Texture Capital.
