BitGo broadens Canton custody and token services for institutions
BitGo says it is the sole regulated custodian active on Canton Network, which is designed for banks seeking blockchain infrastructure without public exposure. It provides custody for Canton Coin with up to $250 million in insurance, supports the CIP-56 token standard including USDCx and cBTC, and enables trading and settlement through Go Network without moving assets out of custody. It also added MPC/TSS signing for Canton transactions, requiring multiple parties to approve.
BitGo began custodying Canton Coin in late October 2025, becoming the first U.S.-based qualified custodian to do so, and backs that service with institutional insurance of as much as $250 million. In March 2026, it extended support to CIP-56 assets, including USDCx and cBTC, and added trading and settlement through Go Network while assets remain in custody.
Canton launched its public synchronizer and CC in July 2024 under the Canton Foundation. Its design emphasizes selective disclosure and atomic cross-application settlement; Goldman Sachs, DTCC, and BNY Mellon have participated in initiatives, and Canton reports over $6 trillion in on-chain assets and daily repo volumes reaching $280 billion.
BitGo’s expanded Canton role could make it easier for banks, asset managers, and pension funds to hold and move tokenized dollars and Bitcoin under regulated custody. That may increase institutional comfort with regulated blockchain settlement, potentially affecting clients who rely on these institutions for safekeeping and trade execution. It could also concentrate influence around a few custody gatekeepers, raising questions about access and resilience without necessarily changing outcomes for retail users.