Ripple has updated its institutional custody solution to version 1.43, enabling support for the Canton Network. This advancement allows banks and institutional funds to securely hold Canton C
Ripple has updated its institutional custody solution to version 1.43, enabling support for the Canton Network. This advancement allows banks and institutional funds to securely hold Canton Coin (CC) and CIP-56 tokens within a single platform. The development is seen as a strategic effort by Ripple, a leading blockchain company specializing in cross-border payments and digital asset infrastructure, to expand its influence in the rapidly growing tokenization market on Wall Street.
Industry participants have increasingly shifted toward cooperation instead of direct competition in the race to tokenize real-world assets. The rivalry initially forecasted between platforms like Ripple and the Canton Network has instead resulted in a pragmatic division of roles. Contrary to earlier media reports in late 2025 labeling Canton as a potential “XRP killer,” both networks are now serving distinct functions within the financial ecosystem.
A longstanding challenge for blockchain adoption in traditional finance is the issue of transparency. Banks are cautious about exposing sensitive information such as balances and transaction histories to their competitors. The Canton Network, developed by enterprise blockchain firm Digital Asset, addresses this by offering privacy-focused protocol features. In multi-party transactions on Canton, each participant can only view their own relevant data.
Mini dictionary: Canton Network, launched by Digital Asset, is a privacy-centric blockchain platform designed for institutions, enabling secure, confidential settlement and tokenization of financial assets.
Ripple Custody 1.43 provides institutions with the familiar controls expected of an enterprise-grade environment, including isolated key storage, transaction pre-approvals, and multi-step transfer mechanisms.
The scale of Canton Network’s adoption is significant, focused far more on institutional applications than on retail digital assets. Notable financial institutions such as Goldman Sachs, BNP Paribas, and BNY Mellon are already utilizing Canton for operational purposes. Broadridge’s platform moves multibillion-dollar repurchase agreements (repos) daily over Canton, while the Depository Trust & Clearing Corporation (DTCC) uses these rails to tokenize U.S. Treasuries.
Institution Use Case Integrated Network Goldman Sachs Asset tokenization Canton BNP Paribas Settlement platform Canton Broadridge Repo transactions Canton DTCC Tokenized Treasuries CantonThe integration of the CIP-56 token standard enables settlement on a delivery-versus-payment basis, eliminating the need for external cross-chain bridges and reducing operational risk.
Mini dictionary: CIP-56 is a Canton Improvement Proposal standard that governs token behavior for atomic, secure settlement and delivery-versus-payment models within the Canton Network.
Private ledgers like Canton serve as digital notaries for financial institutions, recording ownership rights with enhanced privacy, while public blockchain networks such as Ripple remain focused on cross-border liquidity and value transfer between disparate systems.
By extending custody support to Canton, Ripple aims to strengthen relationships with its banking partners, minimizing the risk of client attrition and underlining its role as a foundational infrastructure provider for tokenization projects on Wall Street.
Industry observers are interpreting this development as a sign of market maturity, with leading players leveraging their respective strengths rather than pursuing direct confrontation for the control of digital asset rails.
The environment continues to evolve as new tokenization use cases and collaborative infrastructure arrangements emerge, reinforcing the transition toward a multichain ecosystem in traditional finance.
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