Consensys Bets Banks Will Pay to Connect Their Private Ledgers, With Canton on Deck

Consensys , the Ethereum software company founded by Joseph Lubin, unveiled a product on Nov. 2 that aims to let financial institutions transact across separately run private ledgers without moving assets onto a bridge or a shared chain. The offering, called Sovereign Network Interoperability , was announced at DevCon in Mumbai. Consensys is pitching it to banks, custodians, asset managers and financial market infrastructures. The company argues that institutions now prefer to keep their own ledgers for privacy, regulatory and control reasons, which leaves their trading partners spread across other networks and makes every new link more complex to build and run. Get Unchained’s crypto news in your inbox with the free Unchained Daily newsletter .

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