Analyst known as Res has thoroughly examined why Canton Network became the first blockchain genuinely used by Wall Street at an industrial scale. According to him, skepticism around the reported volumes is understandable, but actual data indicates practical use of the network not for trading but for settlements and accounting of real financial obligations. Up to $6 trillion on-chain and about $300 billion in daily turnover pass through Canton, with Broadridge’s DLR platform serving as a key corporate use case. Since 2023, DLR has operated natively on Canton, tracking ownership rights, collateral movements, and cash flows in real time; as of September 2025, DLR processes over $280 billion daily.
Why Canton Network Became the Main Blockchain for Wall Street
Expert Analysis by Res on Industrial Usage
Res emphasizes that this is not about retail DeFi but records reflecting legally significant obligations between financial institutions. This format of work and confirmed volumes justify speaking about industrial use of the network rather than experimental load. The economic value of such records is comparable to traditional settlements since each ledger entry is accompanied by capital movement and fees.
Comparison with Traditional Financial Systems
Broadridge could theoretically use centralized ledgers, but Canton’s architecture offers features important for banks: atomicity of operations and participant data privacy. Participants in a transaction see only their own data, while other network parties have no access, distinguishing Canton from public Layer 1 blockchains like Ethereum. This is critical for banks: public visibility of transactions on an open network is unacceptable for counterparty accounting and settlements.
Economic Value of Operations on Canton Network
The network records real settlements and ownership rights, making Canton’s volumes comparable to banking infrastructure rather than retail DeFi pools. Broadridge, a company with a market cap around $26 billion, provides settlement and back-office infrastructure for major financial institutions and participates in operations involving significant sums. The DLR platform demonstrates how tokenization and blockchain accounting apply to the repo market and related operations.
Transaction Volumes and Key Use Cases
According to the analysis, up to $6 trillion on-chain and about $300 billion in daily turnover flow through Canton, distinguishing the network in scale from typical public protocols. The main institutional use case is Broadridge and its DLR platform, which has operated natively on Canton since 2023 and processes over $280 billion daily as of September 2025. Broadridge services settlements and back-office operations for the largest financial institutions, providing the network with real, not speculative, load.
Additionally, the discussion includes tokenized assets as legal representations of securities and settlement records, including examples with USDC, which Res views as settlement records within the banking system. For a broader context on asset tokenization, see materials on real asset tokenization, covering related cases and reports.
Technical Advantages of Canton Network
- Use of DAML. Canton employs the DAML programming language to describe business logic of contracts, simplifying formalization of financial operations and their execution on the network.
- Privacy and atomicity of operations. The network’s architecture ensures participants see only their own data, and operations execute atomically—reducing risks of mismatches and making the model acceptable for banks.
- Reduced settlement times. Operations that previously took days now execute in seconds within DLR and Canton, facilitating real-time management of collateral and cash flows.
Support from Institutional Players
Participation of DTCC, the largest U.S. depository, further confirms the seriousness of the project and institutional interest in private blockchains for settlements. This indicates that tokenization in securities is developing not on public networks but in isolated institutional environments; more on relevant initiatives can be found in the article about DTCC’s tokenization launch.
Why This Matters
If you are a miner with 1–1000 devices in Russia, there is no direct technical connection between Canton Network and your equipment’s operation: this concerns settlements and ledgers, not mining on public PoW networks. However, institutional adoption of blockchains shows the technology is used for serious settlements, influencing the infrastructure market you indirectly operate in. Understanding this trend helps assess long-term changes in the digital asset and service ecosystem that exchanges and payment providers interact with.
What to Do?
- Monitor regulatory environments and settlement platforms: changes in rules and institutional service integrations may affect withdrawal and conversion methods. This is important even without direct impact on mining hardware.
- Diversify trading and revenue storage methods: consider that part of institutional liquidity and tokenization occurs outside public networks, so having access to various exchange services and custodial solutions is beneficial.
- Maintain security and software updates on your equipment: timely firmware updates and farm monitoring help preserve profitability regardless of changes in financial settlement infrastructure.