According to ChainCatcher, on November 2, Consensys announced the launch of Sovereign Network Interoperability at Devcon in Mumbai, India. It routes and coordinates transactions across independently operated institutional ledgers, covering routing, execution coordination, and transaction tracking. Designed for banks, custodians, asset managers, and financial market infrastructures, the product can select paths based on specified transaction counterparties, approved counterparties, and settlement requirements, and track transactions through to completion.

The technology stack supports collateral mobility, delivery-versus-payment securities settlement, wholesale and cross-currency payments, as well as fund and asset servicing. Its core design enables bridge-free interoperability: assets remain on their native ledgers, while cross-ledger state and execution are cryptographically verified without additional trusted intermediaries. The core protocol is Consensys’ Cross-Ledger Interoperability Protocol (CLIP), which is planned to support standards such as the Ethereum Economic Zone and IBC, and connect Canton with Ethereum-compatible networks. It currently supports EVM-based chains, with Canton to be added later. Institutions can operate it themselves, have it operated by a financial market infrastructure, or use Consensys’ hosted service. Consensys President David Cunningham said that institutions need to reach counterparties while maintaining privacy and control over their infrastructure.