BitGo Extends Canton Network Infrastructure to CIP-56 Token Standard, Adding Qualified Custody for USDCx and cBTC
BitGo Holdings, Inc. Class A (BTGO)
Company Research
Source: Business Wire
NEW YORK--(BUSINESS WIRE)--BitGo Inc., the digital asset infrastructure company and wholly owned subsidiary of BitGo Holdings, Inc. (“BitGo”) (NYSE: BTGO), today announced support for CIP-56 token standard assets on the Canton Network, including USDCx and cBTC.The launch expands BitGo’s Canton infrastructure from custody of the network’s native token, Canton Coin, to the broader ecosystem of institutional financial assets built on the CIP-56 token standard.CIP-56 is Canton’s token standard, comparable to Ethereum’s ERC-20, but designed specifically for regulated financial markets. The standard enables confidential transactions where data is shared only with involved parties, native Delivery-vs-Payment settlement, embedded KYC and AML controls, and deterministic settlement finality within seconds.With this integration, BitGo clients can custody and manage the two core categories of institutional assets on Canton:USDCx: A USDC-backed stablecoin issued via Circle’s xReserve protocol
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