Ripple's New Partner Lands Historic S&P On-Chain Trade

Canton Network, support for which Ripple’s custody service launched at the beginning of this month, was used to conduct the first on-chain trade by S&P Dow Jones Indices. The index giant moved an over-the-counter (OTC) total return swap onto a distributed ledger (DLT). In the financial sector, Canton is now trying to take the same place as the main corporate hub that the Polygon network has held in the public Web3 space. The difference is that Canton is building closed “rails” for digitizing TradFi capital markets, bypassing public networks.