Zenith is the EVM and SVM execution layer for Canton Network, advancing real-world capital markets initiatives on-chain.
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JUST IN: Zenith has been invited to join Progmat's Tokenized JGB and On-chain Repo Working Group, a consortium bringing together MUFG, Mizuho, Sumitomo Mitsui, BlackRock Japan, State Street, SBI Securities, Japan Exchange Group, and other major players, conducting a joint study on bringing Japan's $1.6 trillion JGB (Japanese Government Bond) repo market on-chain.
Japan's JGB repo market is one of the largest in the world, processing ¥250-270 trillion annually and representing roughly 10% of the global government bond-backed repo market. Today it settles a business day after a trade is executed, operates within traditional market hours, and requires manual processes at every step. The working group is targeting same-day settlement, 24/7 availability, and cross-border access, enabling fully on-chain repo transactions using tokenized JGB collateral paired with stablecoin cash legs via lending protocols.
A comprehensive report is expected in October 2026, with issuance pilots targeted for later this year. Read the full announcement: zenith.network/resources/blo…
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Canton generated ~$59-60M in fees in the past 30 days, ranking it among the top protocols globally by real revenue, driven by institutional settlement and tokenization workflows. That number alone tells you something about June.
The rest of the month matched that signal:
- @digitalasset closed a $355M Series F led by a16z, with HSBC, Apollo, BNP Paribas, and Citadel Securities among the backers
- Zenith was invited to Japan's megabank consortium targeting same-day settlement for the $1.6T JGB repo market
- @Mastercard added @CantonNetwork to its stablecoin settlement ecosystem
- 900+ active validators, Citadel LLC and Taishin Bank among the newest names
The full June recap is covered in this month's Canton Signal. Zenith is what opens this ecosystem to every Ethereum and Solana developer, bringing DeFi's composable primitives onto the rails where institutional capital actually lives.
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Zenith retweeted
As Canton’s native Ethereum-compatible execution layer, @ZenithFdn offers unmodified EVM (Solidity) and SVM (Rust) virtual blockchains that run natively within @CantonNetwork’s privacy-preserving infrastructure.
This enables institutions to:
1. Seamlessly deploy to battle-tested Web3 DeFi applications from Canton without bridging to external environments,
2. Utilize ERC tokenization standards (ERC-1400, ERC-3643, DS Protocol, CMTAT, ST Protocol, etc.) and EVM based product/tooking dependencies for their Canton strategies,
3. Migrate Hyperledger Besu stacks with lift and shift code redeployments to compose with the broader Canton ecosystem and external L1s.
All of this happens natively on Canton Mainnet, without economic bridges, code rewrites, or compliance fragmentation.
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General purpose blockchains are dead.
Ethereum and Solana pioneered DeFi and built the world's most active programmable financial ecosystem: 76M+ deployed smart contracts, 127M active wallets, and $160B in DeFi TVL.
That foundation is real and it matters, but the institutions moving trillions on-chain chose different infrastructure entirely. @CantonNetwork already processes $9T in monthly institutional settlement, DTCC is tokenizing U.S. Treasuries on it, Broadridge processes $8T+ in monthly repo on it, JPMorgan and HSBC are running production operations on it.
These two worlds weren't competing, they were building in different languages for different requirements, with no native connection between them. Our recent report (p.19) cites Canton's Polyglot Whitepaper on what was needed: "Canton Network aims to apply the best parts of crypto and DeFi to traditional finance, and to break down the currently hard barrier between those two worlds."
Zenith is what makes that breakdown real.
Solidity developers deploy existing code without modification, EVM execution routes natively through Canton's consensus, and DeFi protocols become atomically composable with the institutional assets and capital flows that have been operating on Canton for years, without asking either side to compromise on what makes them work.
Dive into the full “Canton or Ethereum” report: zenith.network/resources/blo…
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General purpose blockchains are dead.
Ethereum and Solana pioneered DeFi and built the world's most active programmable financial ecosystem: 76M+ deployed smart contracts, 127M active wallets, and $160B in DeFi TVL.
That foundation is real and it matters, but the institutions moving trillions on-chain chose different infrastructure entirely. @CantonNetwork already processes $9T in monthly institutional settlement, DTCC is tokenizing U.S. Treasuries on it, Broadridge processes $8T+ in monthly repo on it, JPMorgan and HSBC are running production operations on it.
These two worlds weren't competing, they were building in different languages for different requirements, with no native connection between them. Our recent report (p.19) cites Canton's Polyglot Whitepaper on what was needed: "Canton Network aims to apply the best parts of crypto and DeFi to traditional finance, and to break down the currently hard barrier between those two worlds."
Zenith is what makes that breakdown real.
Solidity developers deploy existing code without modification, EVM execution routes natively through Canton's consensus, and DeFi protocols become atomically composable with the institutional assets and capital flows that have been operating on Canton for years, without asking either side to compromise on what makes them work.
Dive into the full “Canton or Ethereum” report: zenith.network/resources/blo…
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We're building infrastructure that global financial institutions depend on, now we need the engineer who makes sure it never goes down.
Zenith is hiring a Senior Site Reliability Engineer.
This is a role for someone who has owned production reliability solo before, built the processes around it from scratch, and is ready to do it again at the intersection of institutional finance and blockchain infrastructure. You'll design and implement incident response, observability, monitoring, and on-call systems while supporting Canton validator operations and Zenith Stack client deployments. As Zenith scales, you'll grow a team around it.
We're looking for 7+ years in SRE or platform engineering, deep Kubernetes expertise, and a proven track record owning mission-critical distributed systems. Experience with blockchain infrastructure or high-availability financial systems is a strong bonus.
Remote-first, Europe strongly preferred.
Apply here: platform.zenith.network/appl…
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Korea is paying attention. Zenith Co-founder & CBO @HeslinKim sat down with Digital Asset Works after a private event in Seoul with 50 major Korean financial institutions alongside a16z and Tiger Research.
Key takeaways from the interview:
> Japanese financial institutions chose @CantonNetwork because global banks, regulators, and exchanges are already using it. Zenith was invited because we solved a very specific and necessary technical problem - EVM access to Canton - that no one else had.
> Korean asset managers are studying tokenization of domestic assets for distribution to Latin American, African, and North American investors, connecting Korean assets to global DeFi yield
> Korean banks' top priority: KRW stablecoins and cross-border settlement. Companies like Samsung and LG constantly pay SWIFT fees moving capital across global entities. Stablecoins eliminate that friction
> "If Japan's government bonds were tokenized as a single asset, they could rival Bitcoin's market cap. And that's just one asset." The current crypto market FDV is ~$3.8T. Global financial capital markets are $100T, roughly 25-30x larger
> The big picture: "In 10 years, today's top crypto assets could be completely replaced by tokenized real-world assets: JGBs, equities, corporate bonds"
Full interview in Korean, worth running through a translator: digitalasset.works/news/arti…
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Zenith retweeted
Over the past decade, I have worked extensively in the Ethereum tokenization ecosystem, from Security Token Offerings (STOs) to Real-World Assets (RWAs), and have gained broad firsthand experience across its development.
During this period, I have also directly encountered the technical and operational challenges of integrating various ERC token standards into Distributed Ledger Technology (DLT) solutions built with the Daml toolkit.
The release of the Polyglot white paper represented a meaningful step forward in addressing a longstanding interoperability barrier, not only for my own work, but for Ethereum-native organizations more broadly.
In response, @ZenithFdn has prepared a report examining the points of convergence between @CantonNetwork and Ethereum and assessing which platform is positioned to lead the institutional market over the long term.
platform.zenith.network/api/…
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New report out today "Canton or Ethereum: The Institutional Choice Ahead". A full breakdown of where institutional finance is choosing to build, what Ethereum's developer ecosystem brings to the table, and how Zenith connects the two.
Here are the numbers worth knowing before you read it:
> p.8: @digitalasset has raised $700M+ total, including a $355M round in June 2026 led by a16z crypto at a $2B valuation.
> p.9: @CantonNetwork processes $9T in institutional settlement monthly, compared to $9.49T across all global stablecoins and $556.2B on Ethereum stablecoins.
> p.21: Ethereum dominates Web3 asset classes: 59% of DeFi TVL, 62% of NFTs, 63% of stablecoin volume, 64% of distributed RWAs. Without EVM compatibility, none of that liquidity reaches Canton.
> p.30: 76% of developers use Solidity regularly. Ethereum hosts 76M+ deployed smart contracts and roughly 127M active wallets.
> p.31: The $846T global derivatives market still settles through overnight batch processing. A 1% efficiency gain from real-time collateral movement could unlock $8.4T in usable capital.
Read the shortened version in the article or check the full report here: zenith.network/resources/blo…
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Zenith Co-founder & CBO @HeslinKim's interview with @andres_solt from Proof of Talk at the Louvre just dropped.
The throughline: most general-purpose L2s didn't fail because the cryptography was weak. They failed because they never had sustainable business models or real demand beyond speculation. @CantonNetwork took the opposite path, a decade of institutional trust built by @DigitalAsset, with real pilots and real capital before any token existed. Zenith's role is bridging that infrastructure to Ethereum's developer ecosystem, bringing EVM compatibility to a network most Web3 builders had no visibility into.
Timecodes if you want to jump around:
> (13:43) Why the ZK L2 wave largely failed
> (18:40) The Canton Network thesis and Zenith's role in it
> (28:43) The scale of institutional adoption, DTCC alone processes quadrillions annually
> (38:30) Where the industry goes next
Check the full interview here: piped.video/watch?v=NQFq7ING…
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Zenith in the Korean press today 🇰🇷
@HeslinKim sat down for a wide-ranging interview covering why Japan's megabank consortium chose Zenith for the $1.6 trillion JGB repo initiative, what tokenized real-world assets mean for global capital markets over the next decade, and what 50 major Korean financial institutions were asking about during last week's private event in Seoul alongside a16z and Tiger Research.
digitalasset.works/news/arti…
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Most cross-chain composability puts the guarantee at the application layer, a smart contract promise across two environments that still finalize independently. Zenith puts it at the protocol level, inside @CantonNetwork's own consensus, where both environments are part of the same transaction and settle simultaneously.
What that means for institutions is significant. The privacy Canton provides on the asset side remains intact throughout the entire operation. DeFi liquidity becomes accessible without any of the tradeoffs that have historically made institutional participation in DeFi impractical.
@GArentoft covers the architecture with @TheNode_Network.
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Ever wonder how to mix private assets with public DeFi in one go? This breakdown shows how Canton and Zenith bridge privacy and interoperability seamlessly. Don't miss this innovation. #DeFi #CantonNetwork #ZenithProtocol #Web3 #Privacy
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Making Ethereum and @CantonNetwork speak the same institutional language, that's a good way to describe what Zenith is building. The conversations at the Louvre's Canton Track were exactly the right place for that discussion, and @HeslinKim came back with a lot to bring forward.
Thank you @proofoftalk for putting together something genuinely worth attending. See you next year.
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Heslin Kim's @HeslinKim job is to make Ethereum and Canton speak the same institutional language. At Proof of Talk this June, he found a place where they already do.
The Co-Founder of @ZenithFdn builds the EVM execution layer for Canton, with Zenith holding a Super Validator slot alongside JPMorgan, HSBC, Visa, and DTCC.
At the Louvre, he joined the Canton Track conversations on cross-VM architecture, composability, and bridging DeFi to institutional finance.
And he is already coming back next year.
Thank you, Heslin. Looking forward to seeing you soon.
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Zenith retweeted
Four committee seats and active participation in Tokenomics, Marketing, Tech & Ops, and Accountability.
@ZenithFdn earned Tier-1 Super Validator status through the CIP process and now shows up week after week to shape the governance decisions that affect every builder on @CantonNetwork.
This is what governance participation looks like in practice.
Zenith committed to @CantonNetwork in Q1 2025, before most of the institutional momentum was visible, before the major partnership announcements, and before Canton became one of the most recognized networks in regulated finance.
That early commitment translated into something concrete: Tier-1 Super Validator status with maximum network weight, earned through Canton's CIP process based on demonstrated contribution. And with it, active seats across four @CantonFdn committees - Tokenomics, Marketing, Tech and Operations, Accountability - where Zenith's team shows up week after week to participate in the decisions that shape how Canton evolves.
For the 31,800+ Ethereum developers who will build on Canton through Zenith, that governance presence matters directly. The $CC reward structures, the protocol standards, and the development fund priorities are outcomes Zenith's team influences from inside the process, on behalf of the builders who will deploy on what gets built.
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EVM builders and institutional enterprises have different requirements when it comes to building on @CantonNetwork and Zenith is built with that in mind.
Solidity developers who want the fastest path to Canton's institutional infrastructure can deploy directly on Zenith EVM, the reference implementation operated by the Zenith team. Existing applications lift and shift without modification, inherit a full suite of tooling out of the box, and run on a high performance chain that adds minimal latency to Canton's native transaction processing times.
Enterprises and institutions that need more control have Zenith Stack, a customizable EVM environment where economics, fee models, native tokens, sequencing logic, compliance frameworks, and permissioning are all configurable to specific requirements. Built natively within Canton's privacy-preserving infrastructure, designed for institutions that can't operate within a one-size-fits-all environment.
Both paths lead to the same place, Canton's institutional ecosystem where JPMorgan, DTCC, Goldman Sachs, and Visa already operate at scale.
zenith.network/contact-us/
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Zenith retweeted
Tier-1 Super Validator status on Canton is earned through demonstrated contribution.
@ZenithFdn on what that means for builders deploying on the network.
Zenith committed to @CantonNetwork in Q1 2025, before most of the institutional momentum was visible, before the major partnership announcements, and before Canton became one of the most recognized networks in regulated finance.
That early commitment translated into something concrete: Tier-1 Super Validator status with maximum network weight, earned through Canton's CIP process based on demonstrated contribution. And with it, active seats across four @CantonFdn committees - Tokenomics, Marketing, Tech and Operations, Accountability - where Zenith's team shows up week after week to participate in the decisions that shape how Canton evolves.
For the 31,800+ Ethereum developers who will build on Canton through Zenith, that governance presence matters directly. The $CC reward structures, the protocol standards, and the development fund priorities are outcomes Zenith's team influences from inside the process, on behalf of the builders who will deploy on what gets built.
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Two teams building different layers of the same institutional stack. Both active in @CantonNetwork's governance committees, contributing to the technical standards and tokenomics of a network that JPMorgan, DTCC, Goldman Sachs, and Visa already depend on.
Good to be building alongside @redstone_defi on what's coming next.
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3/ @zenithfdn is Canton's EVM and SVM layer, enabling Ethereum and Solana developers to deploy apps that atomically interact with Canton's institutional infrastructure.
RedStone serves as its decentralized production oracle, delivering financial-grade price feeds purpose-built for Canton's requirements.
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Securities Finance Times covers Zenith's invitation to join @progmat_en's Tokenized JGB and On-chain Repo Working Group, a consortium bringing together MUFG, Mizuho, Sumitomo Mitsui, BlackRock Japan, State Street, and other major institutions working to bring Japan's $1.6 trillion JGB repo market on-chain.
securitiesfinancetimes.com/s…
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Around $350 billion in on-chain repo transactions are in execution today on @CantonNetwork. Japan's $1.6 trillion JGB repo market is the next frontier.
As part of @progmat_en's working group, where Zenith is collaborating alongside BlackRock Japan, MUFG, Mizuho, Sumitomo Mitsui Banking Corporation, State Street, Daiwa Securities Group, and other major institutions on a joint initiative to bring that market on-chain, targeting T+0 instant settlement, 24/7 availability, and cross-border access for a market that currently settles on T+1.
As the canonical Ethereum-compatible execution layer for Canton Network, Zenith enables institutions and developers to deploy applications that work seamlessly with Canton's compliant, privacy-enabled infrastructure at institutional scale.
See the full breakdown: zenith.network/resources/blo…
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