Institutional collateral and liquidity optimization fintech Transcend announced today, April 7, that it has connected to privacy-focused blockchain Canton Network. The integration enables clients to move collateral and cash in real time across counterparties and markets using a mix of traditional and tokenized assets.
Per the release, Transcend connects to more than 45 central counterparty clearinghouses (CCPs) — the intermediaries that sit between buyers and sellers in derivatives and securities markets to reduce counterparty risk — as well as five triparty agents. The integration with Canton appears to be the fintech’s first partnership with a crypto firm, letting institutions incorporate tokenized assets into existing workflows without restructuring their operating models.
The company is also building a node-as-a-service on Canton and two-way APIs to translate between DeFi and TradFi systems, nothing it will start with Canton and extend to other blockchain platforms.
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