Canton Network teams up with DTCC to promote US debt tokenization. After a 27% increase, can Canton Coin's rally continue?

U.S. Securities Depository and Clearing Corporation (DTCC) announced on December 17th plans to utilize the Canton Network blockchain to tokenize some U.S. Treasuries held by its subsidiary, the Depository Trust Company. This landmark event is interpreted by the market as a substantial embrace of blockchain asset tokenization by a traditional financial infrastructure giant, directly driving Canton Network’s native token Canton Coin (CC) to surge approximately 27% over the past week against the broader market trend.

Meanwhile, the total value of tokenized real-world assets (RWA) has more than doubled over the past year, now approaching $19 billion, with U.S. Treasury products accounting for nearly half of that. This collaboration not only provides Canton Network with strong institutional credibility but could also serve as a key catalyst in accelerating the on-chain wave of trillions of dollars in traditional assets.

DTCC Joins Canton Network: A “On-Chain” Roadmap for Traditional Financial Giants

This move by DTCC is far from a simple technical experiment. As the core post-trade infrastructure of the U.S. securities market, DTCC and its subsidiaries processed securities transactions worth up to $3.7 trillion last year. CEO Frank La Salla explicitly stated that the collaboration aims to “create a roadmap to bring real-world, high-value tokenization use cases to market, starting with U.S. Treasuries and ultimately expanding to all asset classes that meet DTC criteria.” This clearly indicates that DTCC’s vision is not limited to a single asset but aims to build a compliant blockchain framework serving a broad range of traditional financial assets. For a trust-dependent and compliance-driven financial world, DTCC’s involvement acts as a heavyweight “trust vote,” symbolically and practically boosting the project’s credibility.

The market responded swiftly and directly. Following the announcement, Canton Coin’s price surged, with a peak increase of nearly 40% within a week, hitting a four-week high. This performance starkly contrasts with the slightly weak overall crypto market: Bitcoin and Ethereum dipped about 0.5%, BNB fell 0.9%, while Solana retraced 3.3%. The independent performance of Canton Coin indicates that market funds are keenly capturing the core narrative of “traditional financial institutions entering,” viewing Canton Network as a key infrastructure beneficiary in this trend. Institutional investors’ expectations have fundamentally shifted—they are reassessing the project’s potential and positioning.

The core of this collaboration is to leverage Canton Network to create a private, compliant blockchain environment for regulated financial institutions. It is not about replacing the existing financial system but about enhancing its efficiency through blockchain technology. DTCC’s participation essentially signifies the highest recognition of Canton Network’s technical solution in terms of security, compliance, and institutional applicability. It sends a clear signal to global banks, asset managers, and hedge funds: the asset tokenization pathway based on Canton is a feasible route to gain access to the mainstream financial world. This paves the way for more traditional financial institutions to follow and connect in the future.

In-Depth Analysis of Canton Network: A Blockchain Designed for a Compliant Financial World

What is Canton Network? To understand why it has gained DTCC’s favor, one must delve into its design philosophy. Canton Network is a unique hybrid blockchain that cleverly combines permissioned and permissionless features. Simply put, it functions like a “membership club” tailored for regulated financial institutions: participating nodes require permission and verification, ensuring compliance identities and network control; meanwhile, within the network, asset issuance, trading, and settlement enjoy the fluidity and interoperability akin to public blockchains. This design precisely addresses the core demands of traditional financial institutions—embracing innovative efficiency without sacrificing regulatory compliance and privacy.

The network’s native token, Canton Coin (CC), plays the role of “fuel” supporting transactions and core network operations. Unlike many tokens used solely for governance or speculation, CC’s use cases are directly tied to the network’s real economic activities. As more institutions issue and trade tokenized assets (such as Treasuries) via Canton Network, demand for CC will correlate positively with network activity. This is the fundamental logic behind the recent surge in CC’s price following the DTCC news: market anticipates that future network transaction volume will grow exponentially under the leadership of industry giants, thereby increasing practical demand for CC.

Beyond the architecture, real on-chain data also confirms that the price increase is not purely speculative. In the past 24 hours, nearly 24,000 active addresses have recorded over 500,000 transactions on Canton Network. This level of activity is comparable to mainstream public chains. For comparison, during the same period, XRP had about 39,000 active addresses, Cardano about 25,000, and Chainlink fewer than 5,000. Canton Network’s high transaction count indicates that its network is handling high-frequency, substantive interactions rather than simple token transfers. This provides solid fundamental support for the price surge, showing that growth stems from genuine network demand rather than merely exchange trading.

Canton Network envisions becoming a “blockchain internet” connecting isolated financial institutions, enabling assets and data to flow seamlessly across authorized applications and entities. Such interoperability is crucial for building a thriving institutional DeFi and RWA ecosystem. DTCC’s involvement undoubtedly establishes a key hub and toll station in this “financial highway” under construction, with its demonstrative effect attracting more “vehicles” (financial institutions) and “cargo” (financial assets) onto this new route.

RWA Sector Rise: How Tokenized Treasuries Are Leading a Trillion-Dollar Asset On-Chain Wave

The collaboration between DTCC and Canton is not an isolated event but one of the most prominent waves in the current surging “real-world asset tokenization” tide. RWA tokenization refers to issuing and circulating ownership or income rights of traditional assets (such as government bonds, stocks, real estate, private equity shares) as digital tokens on blockchain. This field has developed into one of the core narratives of the crypto market between 2024 and 2025, driven by blockchain’s ability to significantly reduce transaction costs, shorten settlement times, enable 24/7 trading, and expand global investor access in unprecedented ways.

Data best illustrates the rapid trend. According to RWA.xyz, the total value locked (TVL) of tokenized RWAs has more than doubled over the past year, soaring from about $5.6 billion at the end of 2024 to approximately $19 billion now. In this growth wave, U.S. Treasuries play an absolute leading role. Currently, the on-chain tokenized USTreasuries have increased from about $3.9 billion at the start of the year to roughly $9 billion, nearly half of the entire RWA market. Behind this phenomenon are global investors seeking stable yields outside the high volatility of crypto markets and traditional asset management giants recognizing blockchain’s efficiency advantages.

The market landscape is dominated by a few giants. The largest product is BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL), which offers investors a way to invest in short-term U.S. Treasuries on-chain and earn daily yields, with assets now nearing $1.7 billion. Other major players include Ondo Finance and Franklin Templeton, with tokenized treasury fund assets of approximately $830 million and $798 million respectively. These products issued by traditional financial giants are rapidly educating the market and building user habits.

Key Data and Drivers of RWA Growth

Market Size

• Total locked value: approximately $19 billion (2025 current), more than doubling since late 2024
• USTreasury segment: about $9 billion, nearly 50% of total

Leading Products

• BlackRock BUIDL: nearly $1.7 billion assets
• Ondo Finance: about $830 million assets
• Franklin Templeton: about $798 million assets

Core Drivers

• Efficiency improvements: reducing cross-border transaction costs, shortening settlement from T+2 to near real-time
• Accessibility expansion: enabling global investors to access high-quality assets 24/7 that were previously difficult to reach
• Yield demand: providing stable income options for crypto-native funds and diversifying asset allocation

As MoonPay President Keith Grossman states, bringing traditional assets on-chain will force legacy financial institutions to undergo adaptive transformation, comparable to how digitization reshaped the media industry. DTCC’s proactive involvement precisely confirms this judgment—rather than passively waiting for disruption, it actively participates and leads change to ensure it continues to occupy a central position in the new era of financial infrastructure.