Societe Generale Expands Use of Canton Network for Tokenized Finance

Canton is a Layer 1 blockchain developed by Digital Asset Holdings. Its native token, CC, is currently the 20th-largest cryptocurrency with a market capitalization of $5.9bn. CC is currently trading at $0.15, up over 4% over the past seven days.

Societe Generale on 13 May said the initiative will focus on tokenized collateral, on-chain financing, and digital settlement infrastructure through its digital-assets unit, Societe Generale-FORGE. Tokenization refers to the process of creating a digital representation of a real asset on blockchain infrastructure.

Specifically, the French banking giant plans to accept certain tokenized assets as collateral and participate in repo transactions on Canton. The bank also said Societe Generale-FORGE will deploy its USD CoinVertible (USDCV) and EUR CoinVertible (EURCV) stablecoins on the network to support settlement and other tokenized finance activity. Stablecoins are a type of cryptocurrency designed to maintain a 1:1 peg to fiat currency, like the US Dollar. 

The initiative expands on Societe Generale’s existing work with Canton, on which the bank completed what it described as its "first US tokenized bond issuance" in November 2025.

"Bringing our regulated stablecoins to the Canton Network represents a major milestone in advancing institutional tokenized finance," said Jean-Marc Stenger, CEO of Societe Generale-FORGE, in a statement. "By enabling secure, compliant, and efficient digital settlement, SG‑FORGE is helping bridge traditional financial markets with on‑chain infrastructure."

Growing footprint

The move adds to Canton’s growing role in traditional finance (TradFi), as banks and asset managers increasingly turn to the network for its privacy-focused infrastructure, which is designed specifically for regulated financial markets. 

Over the past few months, Canton has gained traction among institutions because it allows firms to operate on shared blockchain systems while keeping sensitive financial data private. 

In January, JPMorgan Chase said it planned to issue its JPMD deposit token natively on Canton. This rollout is happening in phases throughout 2026. 

Then, earlier this month, the Depository Trust & Clearing Corporation (DTCC) announced it is moving ahead with its tokenization plans on Canton, saying it will begin limited production trades of tokenized assets in July.

Canton's growing footprint has also attracted investor interest. Bloomberg reported this past Sunday that Digital Asset was hoping to raise $300mn at a valuation of about $2bn in a funding round reportedly led by Andreessen Horowitz’s a16z crypto fund. 

The year of tokenization 

Societe Generale's move also comes as tokenized real-world assets (RWAs), such as bonds and funds, continue to gain traction in the TradFi sphere.

The sector’s total distributed asset value has climbed to more than $31.6bn, up from about $5.9bn at the start of 2025, according to data from RWA.xyz.

Tokenized US Treasury products remain the largest part of the market at around $15.8bn, followed by commodities at $5.1bn and asset-backed credit at about $2.2bn.