BitGo offers Canton Coin custody with $250M insurance, regulated cold storage, and multi-signature protection.
By Zoran Spirkovski
Editor Julia Sakovich
Updated
3 mins read
Digital asset infrastructure company BitGo announced custody support for Canton Coin (CC) on Oct. 29, becoming the first US-based qualified custodian to offer this service. The integration enables institutions to hold and manage CC, the native token of the Canton Network’s Global Synchronizer infrastructure.
The new service includes regulated cold-storage custody with institutional oversight, according to a press release. BitGo provides $250 million in insurance coverage and multi-signature protection for Canton Coin holdings.
Institutional clients also gain access to self-custody wallets for treasury operations, along with streamlined reporting and audit tools designed to meet regulatory standards.
Chen Fang, BitGo’s Chief Revenue Officer, stated the company remains committed to supporting institutional adoption of digital asset networks and providing meaningful utility enabled by Canton. The infrastructure aims to deliver institutional-grade security and services for emerging ecosystems.
The Canton Network operates as a privacy-enabled blockchain designed specifically for regulated financial markets. Canton Coin launched alongside the Global Synchronizer MainNet in July 2024.
The token is currently earned by network participants who provide infrastructure or applications, rather than purchased through traditional exchanges. Approximately 22 billion CC are in circulation, with over 300 participants using the token within the ecosystem.
The protocol uses the Daml smart contract language, which enables programmable privacy and horizontal scaling. Canton Coin serves as the native utility token for the network’s Global Synchronizer infrastructure, which is run by independent Super Validators.
The Canton Foundation filed for admission to trading in the EU, with an expected initial listing on Kraken’s EU platform, though no specific date has been confirmed.
Melvis Langyintuo, Executive Director of the Canton Foundation, described BitGo’s support as a significant step toward institutional adoption of CC. The custody announcement positions BitGo ahead of potential public trading, similar to how the recent BaFin license acquisition in Germany positioned the company for European expansion.
BitGo plans to expand its infrastructure to support the full range of Canton Network assets beyond the initial custody launch. Future capabilities will include withdrawal functionality, token standard integration, stablecoin support, and Go Network compatibility.
The company also intends to provide trading and liquidity access for Canton Network assets.
The integration comes as BitGo CEO Mike Belshe continues to position the company as a bridge between traditional finance and digital markets. BitGo, founded in 2013, currently serves thousands of institutions with over $90 billion in assets on its platform.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
As a Web3 marketing strategist and former CMO of DuckDAO, Zoran Spirkovski translates complex crypto concepts into compelling narratives that drive growth. With a background in crypto journalism, he excels in developing go-to-market strategies for DeFi, L2, and GameFi projects.
