Consensys Bets Banks Will Pay to Connect Their Private Ledgers, With Canton on Deck
By Unchained
AI summary of the source article
Consensys introduced Sovereign Network Interoperability, a product enabling financial institutions to transact across distinct private ledgers without using bridges or shared chains. The software uses zero-knowledge cryptography and plans to support Canton next.
Why it matters
Consensys President David Cunningham stated that "institutions need to reach new and existing counterparties without sacrificing privacy, while keeping control of their infrastructure," providing "a simpler path to each new connection, with verifiable outcomes and clear accountability."
Key facts
- Consensys launched Sovereign Network Interoperability at DevCon in Mumbai on Nov. 2.
- The product uses the Cross Ledger Interoperability Protocol (CLIP), keeping assets on their home ledgers while coordinating settlements.
- It connects to Ethereum-compatible networks, with integration for Canton planned next.
Source excerpt · Unchained
The Ethereum software firm says its new product lets banks, custodians and asset managers settle trades across separate ledgers while assets stay where they are. The post Consensys Bets Banks Will Pay to Connect Their Private Ledgers, With Canton on Deck appeared first on Unchained .