Two major global banks — BNP Paribas and HSBC — have joined the Canton Foundation, the development organization of the tokenization-focused Canton Network, underscoring continued institutional interest in real-world asset applications of blockchain technology.
The foundation announced Tuesday that BNP Paribas and HSBC are now members, alongside recent entrants Goldman Sachs, Hong Kong FMI Services and Moody’s Ratings. With more than 30 members, the Canton Foundation provides governance and strategic direction for the network while advancing blockchain-based financial use cases.
Canton Network is a blockchain designed for institutional finance, with a core focus on real-world asset (RWA) tokenization, regulatory compliance and interoperability.
BNP Paribas’ head of global markets, Hubert de Lambilly, said the move reflects the bank’s commitment to adopting distributed ledger technology “to serve our evolving client needs.”
BNP’s involvement builds on its prior backing of Digital Asset, the company behind the Canton Network. The French bank participated in Digital Asset’s $135 million funding round, which the firm said would accelerate institutional adoption and decentralized finance initiatives on Canton.
HSBC’s head of digital assets and currencies, John O’Neil, said joining the foundation would help foster the blockchain industry’s maturation and support the creation of real liquidity in digital asset markets.
HSBC has been active across blockchain initiatives, with reports indicating it is preparing to apply for a stablecoin license in Hong Kong under the city’s new regulatory regime. HSBC Hong Kong is also exploring blockchain applications in custody, tokenization and bond issuance, according to previous disclosures.
Related: VC Roundup: VCs fuel energy tokenization, AI datachains, programmable credit
Institutional interest in tokenized RWAs grows
Institutional demand for tokenized real-world assets is shaping crypto’s 2025 narrative, marking a sharp departure from earlier cycles dominated by retail speculation in the 2017 and 2021 bull markets.
The World Economic Forum (WEF) recently highlighted the trend, noting that the industry now benefits from a unique mix of institutions, regulators and technology companies working together to “build trusted, interoperable frameworks.” If successful, the WEF said, this collaboration could allow asset tokenization to fulfill its long-promised potential.
Regulation is also playing a decisive role. In the United States, passage of the stablecoin-focused GENIUS Act, along with House of Representative approvals of market structure and anti-CBDC bills, has bolstered confidence among major financial institutions exploring blockchain adoption.
So far, tokenization efforts have concentrated on private credit markets and Treasury bills. But the scope is expanding, with experiments in equities, commodities and energy infrastructure underway.
As Cointelegraph recently reported, digital asset exchange Kraken has engaged with the SEC’s crypto task force to discuss tokenization, underscoring how the sector’s future is increasingly tied to regulatory dialogue.
Related: Nasdaq asks SEC for rule change to trade tokenized stocks
