Canton Network now processes $6 trillion in real-world assets, with its infrastructure clearing $350 billion in U.S. Treasury volume daily.
Broadridge and the Depository Trust & Clearing Corporation use Canton for tokenization and settlement of those assets. DTCC's move to place DTC-custodied Treasuries directly on-chain via Canton cuts steps out of traditional settlement workflows.
Separately, Lighter's newly launched LIT token has pushed the protocol into direct comparison with Hyperliquid on a fees-to-open-interest basis. Over the past 30 days, Lighter generated $8.5 million in fees against $1.45 billion in open interest. Hyperliquid posted $66.8 million in fees against $7.44 billion in open interest over the same period—a ratio that Lighter is tracking closely.
Hyperliquid runs on a purpose-built Layer 1 and has established itself as the dominant venue for on-chain perpetual futures. Lighter's entry, and the market's willingness to assign it a comparable fee multiple, signals real appetite for alternative perp venues that can compete on fee structure and execution quality.
Canton's $350 billion in daily Treasury flow puts it well beyond pilot-program scale. Institutions are using it for core settlement functions on high-value assets, not proofs of concept.
