Consensys unveiled something new for institutions at Devcon in Mumbai: Sovereign Network Interoperability.
Put simply, it helps banks, custodians, and asset managers route settlements between their own private ledgers: collateral, tokenized securities settlement, wholesale FX, and fund subscriptions and redemptions. Assets stay on their own ledgers, while what they call “bridgeless” zero-knowledge verification checks cross-ledger states—no more moving assets onto wrapped tokens on a bridge.
The core protocol is called CLIP (Cross Ledger Interoperability Protocol). EVM networks can connect now, with Canton coming later; EEZ and IBC are also on the roadmap. The product is out, but its scale and list of first customers haven’t been disclosed yet. For institutional interoperability, the next thing to watch is who actually puts it to use. #Consensys #InstitutionalCrypto
Put simply, it helps banks, custodians, and asset managers route settlements between their own private ledgers: collateral, tokenized securities settlement, wholesale FX, and fund subscriptions and redemptions. Assets stay on their own ledgers, while what they call “bridgeless” zero-knowledge verification checks cross-ledger states—no more moving assets onto wrapped tokens on a bridge.
The core protocol is called CLIP (Cross Ledger Interoperability Protocol). EVM networks can connect now, with Canton coming later; EEZ and IBC are also on the roadmap. The product is out, but its scale and list of first customers haven’t been disclosed yet. For institutional interoperability, the next thing to watch is who actually puts it to use. #Consensys #InstitutionalCrypto
