Digital Asset, a US institutional solutions company, has just announced the launch of Canton Network, a privacy-focused blockchain.
Participants in the project reportedly include Goldman Sachs, Moody's, DRW, Microsoft, BNP Paribas, Cboe Global Markets, Cumberland, Deloitte, Deutsche Börse Group, Paxos, S&P Global, SBI Digital Asset Holdings as well as other major market participants.
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The goal of the new system is to provide "seamless connectivity across various blockchain networks in the industry" and "become a building block for future digital and distributed financial market infrastructures."
Testing of the distributed accounting technology's capabilities in various applications and use cases will begin in July.
Digital Asset raised $120 million in a Series D funding round back in the spring of 2021.
One of the company's main products is the open source smart contract language DAML, which works with both blockchains and centralized databases.