## The "Quiet Rise" of the Canton Chain: $6 trillion in assets on the blockchain, Wall Street is really here

In the red November, DAT's narrative went silent, and BitMNR and SharpLink lost 1.9 billion. But at this juncture, the Nasdaq-listed company Tharimmune suddenly announced the completion of a $540 million financing to build a vault for the Canton chain. DRW, Liberty City, and Ark Fund all participated.

This operation is quite interesting—it's not the money from the crypto circle that is speculating, but Wall Street placing bets.

### What is Canton doing?

Canton is a public chain developed by Digital Asset, taking a completely different route: it aims to become the infrastructure for "AllFi" (a hybrid of DeFi and traditional finance).

**Current Data**:
- On-chain asset scale: over $60 trillion
- Daily Average Transactions: 800,000
- Verification nodes: nearly 600
- Average daily volume of US Treasury repurchase agreements: $280 billion

This is not a concept, it is really running a business.

### Why does traditional finance need such a chain?

Traditional public chains are fully transparent (everyone can see all transactions), but Wall Street cannot operate this way—business secrets, GDPR compliance, and regulatory risks are all issues.

Canton's solution is called **PoSH Consensus**, the core logic is:
- Only the transaction participants can verify this transaction.
- Other validation nodes cannot see your data
- "Only know what needs to be known" - Principle of data minimization

Real case: Bank of America, Societe Generale, Citadel Securities, and Circle completed US Treasury financing transactions on Canton, breaking through the traditional market's 9-5 trading time limitation and achieving 24/7 financing.

### Key Turning Point: Tharimmune's $500M Bet

Tharimmune is the only publicly listed company supported by the Canton Foundation, which means:

1. **Compliance Breakthrough**: Through the form of US stock DAT (Digital Asset Trust), institutions can invest in crypto assets on the New York Stock Exchange, bypassing the regulatory restrictions of direct holding.

2. **Token Economic Reform**: Canton’s native token CC adopts a "mint-burn" model.
- No staking requirements (does not lock up large capital of institutions)
- Participants earn CC by providing utility.
- The current burn/mint ratio has risen to 0.24

3. **Increasing Scale of Positive Cycle**: $6 trillion assets on-chain → Transaction fees and demand ↑ → CC value ↑ → More institutions participating

### Where is the risk?

- **Privacy vs Transparency**: Although PoSH is privacy-friendly, it may weaken the overall transparency of the chain, and the controversy over money laundering risks is still ongoing.
- **Regulatory Uncertainty**: The SEC's stance on tokenized assets and the compatibility of the EU GDPR with blockchain has not yet fully materialized.
- **Adoption Rate Risk**: The destruction mechanism of CC relies on real-world applications. If growth slows down, the deflationary effect will be impacted.

### underlying logic

This is not a financing round, but rather Wall Street defining the next generation of financial infrastructure. From the initial 45 institutions in the pilot to now a $6 trillion asset scale, Canton is quietly absorbing the on-chain traffic of traditional finance using a privacy + compliance approach.

The question is: can it really replace SWIFT in the end? Or is it just a "blockchain sidechain" of traditional finance?