SBIDAH takes on role as super validator in the Canton Network and joins the Global Synchronizer Foundation as premier member
From Vision to Reality – Enabling Synchronized Financial Markets
SBI Digital Asset Holdings (SBIDAH) is pleased to share that it has assumed the role of a super validator for the Canton Network and a Premier member of the Global Synchronizer Foundation, supported by The Linux Foundation. SBIDAH is also one of the 30 strategic partners that launched the Canton Network.
On 1 July 2024, the Global Synchronizer and its utility token, Canton Coin went live. To facilitate the transparent and fair governance of the Global Synchronizer, the interoperability backbone of the Canton Network, the Global Synchronizer Foundation (GSF) was also formed.
The launch marks a pivotal step towards unlocking the full potential of synchronized financial markets, providing first-of-its-kind connectivity for the tokenization and frictionless exchange of regulated financial assets and liabilities.
About the Global Synchronizer
For the first time, market participants can harness the power of synchronized financial markets through the Global Synchronizer. The Global Synchronizer enhances interoperability on the Canton Network, an innovative public-permissioned blockchain network designed with privacy and controls essential to facilitating the exchange of regulated financial assets. The Global Synchronizer is operated and governed in a decentralized manner, with internet-like scalability, ensuring that no single party controls the service and there is no single point of failure; thereby harnessing the benefits of decentralized finance. This transformative infrastructure is set to revolutionize the way financial transactions are conducted, offering enhanced efficiency, reduced operational costs, and minimized risks.
The Global Synchronizer Foundation is an independent U.S.-based entity composed of forward-thinking market participants dedicated to ensuring that the Global Synchronizer is governed transparently in a decentralized manner with organizational neutrality to maintain its integrity.
About the Canton Network
The Canton Network is the financial industry’s first privacy-enabled, interoperable blockchain network designed for institutional assets, launched by a group of leading financial institutions, infrastructure providers, technology firms, and consultants on 9 May 2023. The Canton Network’s design overcomes the shortfalls of existing smart-contract blockchain networks and enables previously siloed systems in finance to become interoperable and synchronized in ways that had been impossible before. Offering the privacy and controls required for highly regulated organizations, the Canton Network creates a safe and sound environment in which assets, data, and cash can move freely across applications in real time, unlocking new efficiencies and powering innovation.
The Canton Network’s Global Synchronizer and Canton Coin Go Live