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ClearToken Launches Regulated Stablecoin FX and Tokenised Settlement on Canton Network with Three Institutional DAPs

By Dominic Sow · 9 March 2026

ClearToken Launches Regulated Stablecoin FX and Tokenised Settlement on Canton Network with Three Institutional DAPs
ClearToken, the FCA-authorised digital financial market infrastructure (FMI) provider, and Canton Network today announced a strategic partnership under which ClearToken will deploy three Daml-based Digital Asset Platforms (DAPs) directly on the Canton Network: ‘CT Register’, ‘CT Pay’ and ‘CT Settle’.  The partnership delivers the first FMI-calibre settlement infrastructure for stablecoin FX and tokenised cash flows on a privacy-enabled institutional blockchain, combining ClearToken’s technology and UK FCA licence, with Canton's atomic composability architecture.  
  • CT Register (Tokenisation): Tokenisation and de-tokenisation of fiat, stablecoins and securities (securities to be added in due course). Positions reflected on Canton as data tokens, enabling programmable, auditable settlement workflows within ClearToken's FMI perimeter.
  • CT Pay (Payments & PvP): Single-sided payments and Payment versus Payment (PvP) settlement, the stablecoin equivalent of CLS, eliminating Herstatt risk in cross-currency transactions by simultaneously discharging both payment obligations atomically across multiple banks.
  • CT Settle (DvP Settlement): FCA-authorised Delivery versus Payment net settlement across fiat, as well as DvP and net settlement across cryptoassets and stablecoins. Canton's atomic composability ensures all settlement legs complete simultaneously or not at all eliminating principal risk at the infrastructure level.
  Market Opportunity The global FX market trades $9.6 trillion daily (BIS, 2025), with CLS settling a record $22.9 trillion in gross FX payment instructions in a single day.  Yet the stablecoin market, with capitalisation exceeding $315 billion and growing rapidly, remains without an equivalent post-trade infrastructure. ClearToken's deployment on Canton, whose institutional ecosystem includes DTCC, Goldman Sachs, Euroclear, LSEG and Tradeweb, positions it directly at the intersection of regulated FMI and the institutional blockchain standard. Benjamin Santos-Stephens, CEO of ClearToken, said: “CT Register, CT Pay and CT Settle deployed on Canton give institutions the regulated end-to-end settlement stack they need to unlock tokenisation, by providing PvP payment certainty and DvP finality of settlement across every form of digital money.”  He added: “We also continue to pursue Bank of England authorisation to launch our fourth core offering, CT Clear. CT Clear will be our clearing service, designed to reduce counterparty risk by interposing a trusted intermediary between trading counterparties.” Yuval Rooz, CEO, Digital Asset, added: “ClearToken’s rollout on Canton will help bring institutional-grade controls to tokenised cash and stablecoin FX. What stands out is the combination of FCA-authorised market infrastructure with Canton’s privacy-preserving interoperability, enabling firms to move from issuance through payment and settlement with stronger certainty around finality and risk. It’s a practical blueprint for how regulated markets can adopt tokenisation at scale.” Mark Williamson, Chief Commercial Officer of ClearToken, commented: “For the first time, a Canton participant can tokenise an asset, settle a cross-currency payment atomically via PvP, and complete DvP settlement all within one regulated environment spanning fiat, tokenised deposits, stablecoins and crypto. That breadth is unique in the market." The ClearToken Development Roadmap ClearToken is building a horizontally integrated Financial Market Infrastructure (FMI) for digital and tokenised assets. Its four interconnected service are:
  • CT Pay and CT Settle (both CT Pay and CT Settle to be provided initially by ClearToken Depository Limited, now FCA-authorised and launched in December 2025) 
  • CT Register (to be provided initially only by ClearToken Depository Limited but also by ClearToken CSD Limited, once authorised); and
  • CT Clear (to be provided by ClearToken CCP Limited, once authorised); 
The services span tokenisation, payments, settlement and clearing, forming a coherent end-to-end post-trade stack that institutions can adopt independently or as an integrated platform. All services will be operated by FCA-authorised or Bank of England-supervised entities within the ClearToken group. 

About the companies

Digital Asset

Website · 23 stories and 1 video interview on FF News since 2020

Previously on FF News:

Canton Network

Website · 29 stories on FF News since 2024

Previously on FF News:

Companies in this story: Digital Asset, Canton Network

People in this story: Yuval Rooz

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