The Canton Network is broadening its presence in South Korea as financial institutions deepen their work with the privacy-focused blockchain. According to the network's co-founder, Canton now handles more than $300 billion in daily value transfers, as Korean firms explore tokenized finance and network operations.

Yuval Rooz, co-founder and CEO of Digital Asset, the company behind Canton, said in an interview with The Korea Times that Korea could take on a larger role in global finance, pointing to the country's tech-savvy population and growing institutional interest.

Korean Partnerships Drive Network Expansion

Shinhan Financial Group signed a memorandum of understanding — a typically non-binding framework for future cooperation — with the Canton Foundation in June. Shinhan Securities and Shinhan Venture Investment followed with strategic investments in Digital Asset in July.

Shinhan Asset Management this month became the first Korean financial institution approved as a Canton Network "super validator," an approval that clears the way for its participation in network operations. Validators, broadly, are the participants in a blockchain network that help verify and process its transactions.

Hanwha Investment & Securities signed a memorandum of understanding with Digital Asset in April and invested around 30 billion won ($22.44 million) in July.

These relationships place Korean institutions alongside established financial firms already using Canton. The network has been embraced by Goldman Sachs, BNP Paribas and the London Stock Exchange Group, giving Canton an institutional base that now spans North American, European and Asian markets.

Viv Diwakar, head of the Canton Foundation, said stronger links between Korean markets and international investors could allow Korean-issued equities to reach global capital. "If there's one thing that I would plant a flag in the sand for, it's the opportunity for Korean-issued equities to meet global capital," Diwakar said.

Privacy Shapes Institutional Blockchain Use

Rooz argued that much of the cryptocurrency industry has centered on speculation rather than lasting economic value. He said blockchain's opportunity lies in bringing traditional capital markets onchain — a process commonly known as tokenization — including stocks, bonds and repurchase agreements, the short-term collateralized transactions that are a mainstay of money markets.

That use requires safeguards for sensitive customer and transaction information. Public blockchains are typically open and permissionless, which can create challenges for institutions responsible for protecting such information. Rooz illustrated the concern by comparing an unrestricted database to a bank that exposes client information and lets everyone access its products — an arrangement, he said, that no bank would accept.

Canton, according to Rooz, combines the openness of a public blockchain with configurable privacy and access controls, allowing institutions to meet business and regulatory requirements across jurisdictions. He compared the model to the internet: anyone can visit a bank's website, while only authorized users can use its services, linking institutional access controls with a shared network.

Foundation Oversees Network Governance

Diwakar said governance is another feature that distinguishes Canton from other blockchain networks. While many public blockchains operate with decentralization and no single accountable entity, Canton is governed by the Canton Foundation, an independent nonprofit that includes major financial institutions and market infrastructure providers. Its members include Goldman Sachs, BNP Paribas, HSBC and Nasdaq.

Together, the continued Korean partnerships, new investment and the first local super validator approval show how Shinhan and Hanwha are extending their involvement in Canton as the network builds a lasting Korean presence.