Greywick Digital Teams With Litecoin Foundation for Institutional-Grade Token
Greywick Digital and the Litecoin Foundation have announced a partnership to deploy cLTC on the Canton Network. The tokenized version of Litecoin, cLTC, will allow institutions to gain exposure to Litecoin's price and liquidity without directly integrating with the Litecoin blockchain.
The cLTC token will be issued by Greywick Digital, which will also coordinate third-party verification of the reserves backing it. The real LTC will be held in reserve while representative cLTC tokens circulate on Canton using the CIP-56 token standard.
David Schwartz, Director of Strategic Partnerships at the Litecoin Foundation, said that most institutions prefer to work within an environment they are comfortable with, and cLTC on Canton is 'that seat.'
The partnership aims to launch by late 2026, contingent on completing testnet validations and publishing public reserve disclosures. This will allow anyone to verify that the supply of cLTC in circulation matches the real LTC held in reserve.