Northern Trust has announced it intends to support digital custody and asset servicing for tokenized financial assets on the Canton Network, the privacy focused public DLT.
By integrating with the distributed ledger, Northern Trust is also eyeing partnerships with other regulated entities and tokenization service providers.
“Our platform is designed to integrate with our core asset servicing infrastructure to support digital and traditional assets side by side,” said Justin Chapman, group head of strategic partnerships, Digital and Financial Markets at Northern Trust. “Building a custody application on the Canton Network will allow us to apply our blockchain-agnostic, asset-agnostic approach as markets continue to evolve.”
As a top five global custodian, Northern Trust was among the first to embrace digital asset technology, co-founding Zodia Custody with Standard Chartered in 2020. It subsequently set up its Digital Assets and Financial Markets Group in 2022.
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