BitGo deepens its Canton Network role with institutional custody and token support

BitGo is leaning hard into the Canton Network. The custody firm says it supports private, permissioned ledgers for institutions and describes itself as the only regulated custodian operating on Canton.

What BitGo is offering on Canton

On October 29, 2025, BitGo became the first US-based qualified custodian to offer custody for Canton Coin (CC), the network’s native token.

BitGo backs that custody with up to $250 million in institutional insurance coverage.

The firm then widened its offering in March 2026. It added support for the CIP-56 token standard, which covers assets issued on Canton under a shared set of rules.

Two tokens stand out in that expansion. One is USDCx, a stablecoin backed by USDC. The other is cBTC, a wrapped version of Bitcoin built to move on Canton.

The March update also introduced electronic trading and settlement through BitGo’s Go Network. Institutions holding assets with BitGo can now trade and settle without hauling those assets out of custody first.

On the technical side, BitGo has integrated signing support for Canton transactions using its MPC TSS custodial wallets. MPC stands for multi-party computation, and TSS stands for threshold signature scheme. No single party ever holds the whole key, so approving a transaction requires several participants to cooperate.

Why Canton is built differently

The Canton Network launched its public synchronizer and native token CC in July 2024, and it is governed by the Canton Foundation.

It is described as a public, permissionless blockchain tailored to regulated finance. Its signature features are selective disclosure and atomic cross-application settlement.

Selective disclosure means participants only see the data they are entitled to see. Atomic settlement means both sides of a trade complete at once or neither does.

Goldman Sachs, DTCC, and BNY Mellon are among the entities involved in Canton Network initiatives.

The network has reported more than $6 trillion in on-chain assets and daily repo volumes of up to $280 billion.

What this means for institutions and the custody race

Custody is the gatekeeper for institutional participation. A pension fund or asset manager generally cannot hold a token unless a regulated custodian can hold it for them. If BitGo is, as it says, the only regulated custodian on Canton, it sits at a choke point that every new institutional entrant has to pass through.

The token lineup matters too. Supporting Canton Coin alone would have limited appeal, since a native token is mostly useful for operating the network. Adding a USDC-backed stablecoin and a wrapped Bitcoin gives institutions two assets they already understand: dollars and Bitcoin.

The trading and Go Network settlement features push BitGo beyond pure storage, keeping both custody and movement of assets under one roof.

The network’s headline figures, including the more than $6 trillion in on-chain assets, are reported by Canton itself. How much of that activity flows through crypto-native custodians like BitGo, versus staying inside the institutions’ own systems, is a different measure.

Disclosure: This article was edited by John Chen. For more information on how we create and review content, see our Editorial Policy.