DTCC has initiated on-chain movement of DTC-custodied U.S. Treasuries using the Canton Network for tokenization and settlement. The network is now handling $350 billion in daily U.S. Treasury activity, with $6 trillion in real-world assets integrated onto blockchain infrastructure. Broadridge is actively utilizing Canton for these RWA operations.
In parallel, the on-chain derivatives market is intensifying competition with Lighter's LIT token launch. Lighter aims to challenge Hyperliquid's dominance in perpetual futures.
Lighter generated $8.5 million in fees over the past 30 days following its LIT launch. Hyperliquid recorded $66.8 million in fees during the same period, showcasing its established scale.
Open interest figures underscore the gap. Lighter reports $1.45 billion in open interest across its derivatives offerings, while Hyperliquid maintains $7.44 billion—reflecting its significant liquidity and user base within the on-chain perpetuals ecosystem.
The tokenization of $6 trillion in U.S. Treasuries via Canton reflects an institutional pivot toward blockchain-based asset management. The mechanism enhances settlement efficiency and introduces new liquidity pathways for government debt.
The Canton Network's capability to move DTC-custodied assets on-chain establishes infrastructure for institutional capital to engage with blockchain directly, setting a precedent for other traditional asset classes.
