BNP Paribas and HSBC have joined the Canton Network, a permissioned and privacy-centric blockchain popular with banks and large financial institutions.

Their addition comes after Goldman Sachs, Hong Kong FMI Services and Moody’s Ratings joined in March. The Canton Network hosts more than $3.6 trillion in tokenized assets, according to the foundation. It functions as a permissioned blockchain with a “Global Synchronizer” that allows trades and settlements to occur across different networks without compromising data control.

BNP Paribas said joining reflects its digital transformation strategy and intent to collaborate on blockchain applications in client services. HSBC framed the move as a way to improve liquidity in digital asset markets and support transactions that span multiple assets.

The Canton Foundation counts more than 30 members, including Broadridge, Tradeweb and Digital Asset. By uniting banks, fintech firms and service providers under neutral governance, the foundation aims to create infrastructure for tokenized finance that mirrors the trust and operational standards of traditional markets.