Consensys, the blockchain software company behind the MetaMask wallet, has launched Sovereign Network Interoperability, software that enables banks and other financial institutions to settle transactions across separate blockchains without transferring assets between networks. The company announced the product on November 2, 2026, at Devcon, the Ethereum developer conference, in Mumbai, targeting banks, custodians, fund managers, and other financial firms. The full announcement is available on the Consensys blog.

The system connects institutions that maintain their records on different digital ledgers. It processes payment instructions, selects approved connections, and checks whether each transaction has finished. During settlement, the software also reports failures and cases requiring further action. For institutional operations teams, that reporting supplies the confirmation needed to act on settlements that stall or fail.

How Consensys Connects Separate Blockchains

The product relies on the Cross Ledger Interoperability Protocol, or CLIP, to verify activity across networks. The protocol uses cryptographic proofs to confirm transactions recorded on different ledgers. Its design draws on zero-knowledge proofs, a method of verifying information without exposing the underlying data. According to Consensys, assets remain on their original ledgers throughout the process. For institutions, that combination addresses two common requirements in cross-network settlement: verifying a transaction without exposing its underlying data, and keeping assets within the ledger where each firm already maintains its controls.

The launch arrives as traditional market operators expand their blockchain services. On October 28, the Depository Trust Company launched a tokenized securities service covering 34 securities, with JPMorgan, Citi, and Fidelity among its participating firms. As more institutional activity records on separate ledgers, coordinating transactions between them is the operational gap a cross-ledger settlement system addresses.

Settlement and Payment Services

Consensys designed the platform to support securities trades, wholesale payments, and currency exchanges. Banks can coordinate payment on one network with the delivery of an asset recorded on another. Coordinating the payment and delivery legs in a single process follows the delivery-versus-payment structure long used in traditional settlement, where neither side of a trade completes on its own.

The software also covers collateral transfers and fund services. Institutions can use it to post eligible collateral or move cash into tokenized money market funds. Approved counterparties and settlement rules remain under institutional control.

Ethereum Networks Supported Now, Canton Planned

Ethereum-compatible blockchains can use the system today. Consensys plans Canton connectivity but has not announced a launch date. The company also intends to support the Ethereum Economic Zone standard and the Inter-Blockchain Communication protocol. A Canton launch date would extend the system beyond Ethereum-compatible environments, where its current reach ends.

Tokenization activity continued to advance elsewhere in the market in parallel. On November 2, Securitize added 13 tokenized stocks on Solana, taking its available stock tokens to 25.

Consensys will provide software updates, security fixes, and tools to monitor transactions. Customers may manage operations themselves or opt for managed services.

Previous Agreements and Business Restructuring

The release comes as the value of tokenized stocks reached roughly $3.8 billion in early November, according to market reporting. On October 8, Consensys partnered with ClearToken to develop around-the-clock settlement systems for digital securities and cash.

In September, Consensys announced plans to separate MetaMask into an independent consumer business. The remaining company would focus on blockchain protocols and infrastructure for institutions. The timing of Canton connectivity and the progress of the MetaMask separation are the next developments to watch in that institutional push.

This article first appeared on CoinCentral.