SBI Targets Institutional Blockchain Adoption with Canton Network Expansion

SBI Holdings has expanded its Canton Network initiative by rebranding one of its subsidiaries to SBI Digital Practice. This move is aimed at increasing adoption of on-chain finance and blockchain technology in the traditional financial industry.

The new subsidiary will provide services for implementing Canton Network, including planning and development of blockchain infrastructure, construction of financial applications, implementation support, and design of transaction systems with potential for cross-border and multi-currency settlements.

Canton Network has already gained significant traction, with over 600 institutions participating in the network and managing over $6 trillion worth of assets. This includes major financial players such as Goldman Sachs, Royal Bank of Scotland, BNP Paribas, Franklin Templeton, Broadridge, and Euroclear.

SBI expects demand for institutional blockchain use to continue growing as more financial market participants expand their tokenization initiatives.