Is Canton Permissionless? CEO Says Yes, but SuperValidators Need Approval
Digital Asset’s CEO faces pointed questions about Canton’s core claims and admits something surprising about the network’s architecture.
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Canton is the chain behind JPMorgan’s deposit token, DTCC, Broadridge’s $400 billion repo book, HSBC, Visa, and a growing roster of the biggest names in global finance. It describes itself as a public permissionless blockchain. But is it?
Yuval Rooz, co-founder and CEO of Digital Asset, faces off against Alex Gluchowski, co-founder and CEO of Matter Labs, and Dragonfly managing partner Haseeb Qureshi in a live debate.
The charges range from foundational: Canton cannot enforce financial rules without a trusted third party, its validators are permissioned in everything but name, and there is no universally shared ledger. Rooz fires back on all of it and, at one point, concedes something that may surprise you.
If the label matters as much as the technology, this episode will force you to decide what blockchain actually means, and whether that answer has consequences for the institutions staking their infrastructure on it.
Host:
Laura Shin, Host / Unchained
Guests:
Yuval Rooz: Co-Founder & CEO, Digital Asset
Haseeb Qureshi: Managing Partner, Dragonfly
Alex Gluchowski: Co-Founder & CEO, Matter Labs
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Did L2 Fragment Ethereum? - With Yuval Rooz, CEO of Digital Asset, Co-Founder of Canton
Layer 2 was supposed to scale Ethereum.
But what if it fragmented it instead?
I
n this episode, we break down:
• Why public chains are “expensive databases”
• Why composability is Ethereum’s real value
• Why stablecoins don’t need blockchains
• Why L2 may be weakening Ethereum’s core
Is scaling helping Ethereum — or hollowing it out?
Explore The Defiant ✨
Quadrillions: Stablecoins: We’ve Only Just Begun | Mohamed Afifi
In this episode, we break down the state of stablecoins and why they’ve been able to bridge the gap into TradFi’s mainstream. Who’s adopting stablecoins and why? How are stablecoins changing the financial and legislative landscape? And what does this mean for the future of the larger crypto landscape?
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Follow Canton: https://x.com/CantonNetwork
Follow Mo: https://x.com/Mo_Bps
Follow Eric: https://x.com/wesarn_real
Follow Jason: https://x.com/JasonYanowitz
Follow Empire: https://twitter.com/theempirepod
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Join the Empire Telegram: https://t.me/+CaCYvTOB4Eg1OWJh
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Timestamps:
(0:00) Introduction
(1:56) The Evolution of Stablecoins
(8:43) The Stablecoin Stack
(11:16) Who is Building on HIFI?
(12:57) Cross-border Payments
(15:55) Stablecoin Market Share
(22:49) Canton's Stablecoin Strategy
(26:09) The Stablecoin Landscape
(28:33) The Importance of Privacy
(31:58) Stablecoin Fragmentation
(35:05) Agentic Payments
(36:52) General Purpose vs Specialized Chains
(41:29) What is the Industry Missing?
(45:06) Closing Comments
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Disclaimer: “Quadrillions” is a mini-series produced by Blockworks, and is sponsored by Canton Network. Nothing on this show is a recommendation to buy or sell securities or tokens. It’s for informational purposes only, and the views expressed by anyone on the show are solely their opinions, not financial advice or necessarily the views of Blockworks.
Our hosts, guests, and the Blockworks team may hold positions in companies, funds, or projects discussed, including those related to Canton Network.
Is Canton a Real Blockchain? | Canton Founder Yuval Rooz
Is Canton a real blockchain or a new kind of capital-markets operating system?
Digital Asset co-founder Yuval Rooz explains why Canton prioritizes privacy as “need-to-know” information sharing and a federated “cantons” design that still allows atomic cross-canton transactions without bridges.
We unpack the two-tier architecture (edge validators + super validators that stitch cantons together and validate the public Canton Coin) and what that means for governance in regulated finance.
Plus: DTCC’s tokenization pilot starting with U.S. Treasuries, and why CC fees are USD-denominated with a burn/mint mechanism designed to track real network utility.
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🎬 DEBRIEF | RYAN & DAVID UNPACKING THE EPISODE
https://www.bankless.com/podcast/debrief-is-canton-even-a-real-blockchain
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🎯THE DEFI REPORT | ONCHAIN INSIGHTS
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💰ICO WATCH | UPCOMING PUBLIC TOKEN SALES
https://bankless.cc/ico-watch
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TIMESTAMPS
0:00 Intro
0:57 Canton Origin
8:02 Vitalik’s Post
14:15 Canton Philosophy
24:19 Canton Architecture vs Competitors
34:27 RWA Property Rights Debate
38:17 Canto Super-Validators
50:39 Canton Critiques
56:56 Decentralized vs Open Finance
1:02:16 Are Decentralized RWAs Possible?
1:07:04 Is Canton a Real Blockchain?
1:14:20 Canton Metrics
1:22:17 DTCC Relationship
1:25:27 Canton Token
1:30:43 Ethereum vs Canton in 2030
1:31:55 Closing & Disclaimers
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RESOURCES
Yuval Rooz
https://x.com/YuvalRooz
Canton
https://www.canton.network/
Omid Malekan vs Austin Campbell Professor Debate
https://www.youtube.com/watch?v=m-h-PeUOvDw
RWA Analytics
https://app.rwa.xyz/
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Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures
Quadrillions: Privacy or Perish | Eli Ben-Sasson, Shaul Kfir, & Eric Saraniecki
In this episode, we discuss why privacy is critical for TradFi adoption, crypto’s privacy solutions today, and how privacy unlocks institutional adoption of crypto, ultimately bringing quadrillions onchain.
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Quadrillions brings together the voices defining the next era of finance. From institutional rails to stablecoins and privacy, the series dives into how traditional markets, crypto innovation, and regulatory frameworks are converging to bring the full force of capital markets onchain.
Join hosts Jason Yanowitz, Yuval Rooz, and Eric Saraniecki for deep dives with special guests Shaul Kfir, Don Wilson, Mike Belshe, Justin Peterson, Acting Chair Caroline Pham, Eli Ben-Sasson, and more.
Produced by Blockworks and Canton Network. For more information, check out https://quadrillionspod.com/
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Follow Canton: https://x.com/CantonNetwork
Follow Eli: https://x.com/EliBenSasson
Follow: Eric: https://x.com/wesarn_real
Follow Shaul: https://x.com/ShaulKfir
Follow Jason: https://x.com/JasonYanowitz
Follow Empire: https://twitter.com/theempirepod
--
Timestamps:
(0:00) Introduction
(3:26) Defining Privacy In Crypto
(7:11) Why Doesn't Privacy Exist Onchain Yet?
(11:18) The Demand For Privacy
(14:12) Is Privacy a Feature or a Product?
(19:50) Can Privacy Be Bolted On?
(23:06) zkRollups Are Not Zero Knowledge
(31:12) Balancing Privacy With Regulatory Compliance
(34:04) Starkware's Userbase
(38:21) Privacy at the Application Layer
(41:08) Privacy vs Anonymity
(43:56) Crypto's Next Big Moment
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Disclaimer: “Quadrillions” is a mini-series produced by Blockworks, and is sponsored by Canton Network. Nothing on this show is a recommendation to buy or sell securities or tokens. It’s for informational purposes only, and the views expressed by anyone on the show are solely their opinions, not financial advice or necessarily the views of Blockworks.
Our hosts, guests, and the Blockworks team may hold positions in companies, funds, or projects discussed, including those related to Canton Network.
Quadrillions: Unlocking Quadrillions | Don Wilson & Yuval Rooz
In this kickoff episode, we draw the big picture of how TradFi is a multiplier for crypto, the barriers to TradFi adoption, and how crypto can overcome - or is already overcoming - those barriers. This is the path to quadrillions moving onchain.
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Quadrillions brings together the voices defining the next era of finance. From institutional rails to stablecoins and privacy, the series dives into how traditional markets, crypto innovation, and regulatory frameworks are converging to bring the full force of capital markets onchain.
Join hosts Jason Yanowitz, Yuval Rooz, and Eric Saraniecki for deep dives with special guests Shaul Kfir, Don Wilson, Mike Belshe, Justin Peterson, Acting Chair Caroline Pham, Eli Ben-Sasson, and more.
Produced by Blockworks and Canton Network. For more information, check out https://quadrillionspod.com/
--
Follow Canton: https://x.com/CantonNetwork
Follow Don: https://x.com/drwconvexity
Follow Yuval: https://x.com/YuvalRooz
Follow Jason: https://x.com/JasonYanowitz
Follow Empire: https://twitter.com/theempirepod
--
Timestamps:
(0:00) Introduction
(2:57) DRW's Origin Story
(9:32) Digital Asset's Thesis
(12:36) TradFi's Early Relationship With Crypto
(15:32) Deciding to Build Canton
(21:03) The Importance of Onchain Privacy
(23:42) Canton's Approach to Privacy
(28:28) Deciding When to Launch Canton
(36:23) Canton's June 2025 Fundraise
(39:59) The Scale of Tokenization
(50:35) Canton's Progress Thus Far
(54:54) Will AI and Crypto Converge?
(58:10) Are Circuit Breakers a Good Idea?
(1:02:48) Bringing Quadrillions Onchain
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Disclaimer: “Quadrillions” is a mini-series produced by Blockworks, and is sponsored by Canton Network. Nothing on this show is a recommendation to buy or sell securities or tokens. It’s for informational purposes only, and the views expressed by anyone on the show are solely their opinions, not financial advice or necessarily the views of Blockworks.
Our hosts, guests, and the Blockworks team may hold positions in companies, funds, or projects discussed, including those related to Canton Network.
Inside Bakkt's mission to help banks offer crypto services to retail
Since going public last October, the digital asset management platform Bakkt has been working towards enabling more businesses to provide crypto services to their customers.
For example, in April of this year, Bakkt closed a deal with American Bank which allows the bank’s customers to buy and sell both bitcoin and ether.
In this episode of The Scoop, Bakkt’s Chief Product Officer Dan O'Prey lays out Bakkt’s ambitions for the future and breaks down his company’s strategy to help banks grow their client-facing crypto offerings.
According to O'Prey, Bakkt hopes to position itself as the underlying infrastructure layer that enables access to a variety of crypto services:
“Bakkt is aiming to be that infrastructure platform — those services under the hood — that can enable non-crypto companies to offer crypto to their consumers in a variety of different fashions.”
Episode 86 of Season 4 of The Scoop was recorded live with The Block's Frank Chaparro and Bakkt Chief Product Officer Dan O'Prey.
Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Email feedback and revision requests to podcast@theblockcrypto.com.
This episode is brought to you by our sponsors Tron, Chainalysis & IWC Schaffhausen
About Tron
On August 1st, 2022, Poloniex launched a faster and more stable trading system along with a brand new user interface. Poloniex was founded in January 2014 as a global cryptocurrency trading platform. With its world-class service and security, it received funding in 2019 from renowned investors, including H.E. Justin Sun, Founder of TRON. Poloniex supports spot and margin trading as well as leveraged tokens. Its services are available to users in nearly 100 countries and regions with various languages available. For more information visit Poloniex.com.
About Chainalysis
Chainalysis is the leading blockchain data platform. We provide data, software, services, and research to government agencies, exchanges, financial institutions, and insurance and cybersecurity companies in over 60 countries. Backed by Accel, Addition, Benchmark, Coatue, Paradigm, Ribbit, and other leading firms in venture capital, Chainalysis builds trust in blockchains to promote more financial freedom with less risk. For more information, visit www.chainalysis.com.
About IWC Schaffhausen
IWC Schaffhausen is a Swiss luxury watch manufacturer based in Schaffhausen, Switzerland. Known for its unique engineering approach to watchmaking, IWC combines the best of human craftsmanship and creativity with cutting-edge technology and processes. With collections like the Portugieser and the Pilot’s Watches, the brand covers the whole spectrum from elegant timepieces to sports watches. For more information, visit IWC.com.
A Conversation with Yuval Rooz, Co-Founder, CEO, Digital Asset
It's been three months since Yuval Rooz stepped into his new role at Digital Asset as CEO. Rooz, a cofounder of the firm, had a goal of making the firm - which was best known for partnering with large financial institutions on blockchain project - more open. On this episode of The Scoop, Rooz joins Frank Chapparo and Ryan Todd to discuss his transition into the CEO suit, what it's been like to take the reins after the exit of Blythe Masters. We also dove into blockchain strategies across cloud providers like Amazon and the success of Digital Asset's partnership with the Australian Securities Exchange.
Show transcript and notes available on The Block.
How Crypto and Blockchain Technology Could Change Financial Services - Ep.97
This is a special episode of Unchained from the CME Global Leadership Conference in Naples, Florida. There, I spoke with Arthur Hayes, CoFounder and CEO of Bitmex, Dan O’Prey, chief marketing officer of Digital Asset, and Alexis Ohanian, Co-Founder & Executive Chairman, Reddit and Co-Founder of Initialized Capital. We cover how public and permissioned chains will compete or complement each other, how blockchain technology will affect incumbent financial services, and how it has already proven itself (hint: as a store of value is one answer). We discuss whether or not crypto represents a new asset class, why the crypto winter is helping to improve the space, and what the launch of Bakkt and Fidelity Digital Assets could mean going forward.
Thank you to our sponsors!
CipherTrace: https://ciphertrace.com/unchained
Microsoft: https://twitter.com/MSFTBlockchain
Episode links
CME's Global Financial Leadership Conference: https://www.gflc.com
Arthur Hayes: https://twitter.com/cryptohayes
Bitmex: https://www.bitmex.com
Dan O'Prey: https://www.linkedin.com/in/danoprey/
Digital Asset: https://www.digitalasset.com
Alexis Ohanian: https://twitter.com/alexisohanian
Initialized Capital: https://initialized.com
Unconfirmed episode with Tom Jessop's Fidelity Digital Assets: http://unconfirmed.libsyn.com/fidelity-digital-asset-services-tom-jessop-on-why-its-serving-institutional-clients-first-ep043
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