The Canton Network expands footprint in Korea as financial institutions deepen their work with the privacy-focused blockchain. The network handles more than $300 billion in daily value transfers, according to its co-founder, as Korean firms explore tokenized finance and network operations.
Digital Asset co-founder and CEO Yuval Rooz told The Korea Times interview that Korea could take a larger role in global finance. He pointed to the country’s tech-savvy population and growing institutional interest.
Network Expands Footprint Through Korean Partnerships
Shinhan Financial Group signed a memorandum of understanding with the Canton Foundation in June. Shinhan Securities and Shinhan Venture Investment then made strategic investments in Digital Asset in July.
Shinhan Asset Management became the first Korean financial institution approved as a Canton Network “super validator” this month. That approval clears the way for its participation in network operations.
Hanwha Investment & Securities signed a memorandum of understanding with Digital Asset in April. It invested around 30 billion won ($22.44 million) in July, according to the source.
These relationships place Korean institutions alongside established financial firms already using Canton. The network has been embraced by Goldman Sachs, BNP Paribas and the London Stock Exchange Group, the source reports. Its growing institutional participation connects with broader financial institutions moving operations onto blockchain.
Viv Diwakar, head of the Canton Foundation, said Korean-issued equities could meet global capital through stronger links between Korean markets and international investors. “If there’s one thing that I would plant a flag in the sand for, it’s the opportunity for Korean-issued equities to meet global capital,” Diwakar said.
Privacy Shapes Institutional Blockchain Use
Rooz argued that much of cryptocurrency has centered on speculation rather than lasting economic value. He said blockchain’s opportunity lies in bringing traditional capital markets onchain, including stocks, bonds and repurchase agreements.
That use requires safeguards for sensitive customer and transaction information. Public blockchains are typically open and permissionless, which can create challenges for institutions responsible for protecting that information.
Rooz illustrated the concern by comparing an unrestricted database to a bank that exposes client information and lets everyone access its products. He said no bank would agree to that arrangement.
Canton combines public blockchain openness with configurable privacy and access controls, according to Rooz. Those controls allow institutions to meet business and regulatory requirements across jurisdictions. He compared the arrangement to the internet: anyone can visit a bank website, while only authorized users can use its services.
The model links institutional access controls with a shared network. The topic also intersects with other coverage of tokenized equities and blockchain privacy, as well as blockchain finance entering banking discussions.
Foundation Oversees Network Governance
Diwakar said governance is another feature that distinguishes Canton from other blockchain networks. While many public blockchains operate with decentralization and no single accountable entity, Canton is governed by the Canton Foundation, an independent nonprofit.
The foundation includes major financial institutions and market infrastructure providers. Its members include Goldman Sachs, BNP Paribas, HSBC and Nasdaq.
The source describes continued Korean partnerships, new investment and a first local super validator approval. Together, these steps show how Shinhan and Hanwha are extending their involvement in Canton as the network builds a Korean presence.