BitSafe Launches Decentralized App Layer on Canton Network With Over $1M Grant

BitSafe has launched an open-source infrastructure layer on the Canton Network designed to streamline the development of institutional-grade decentralized financial applications. The public beta for the framework, called Decentralization Manager, is backed by a development grant of over $1 million (8,500,000 $CC) from the Canton Foundation.

A Framework for Institutional DeFi

The Decentralization Manager provides a reusable, open-source framework for developers, allowing them to build resilient products that distribute control across multiple independent operators. According to BitSafe, this eliminates the need for each development team to create its own complex infrastructure for threshold custody, governance, and audit trails from scratch.

The goal is to help institutions leverage the Canton Network’s privacy-focused architecture while mitigating operational risks. "By open-sourcing Decentralization Manager, BitSafe is giving developers the tools to create resilient, privacy-preserving applications that distribute trust across independent operators," said Viv Diwakar, Head of the Canton Foundation, in a statement. The framework has been independently audited by the security firm Quantstamp.

Key Features and Use Cases

The new infrastructure ships with pre-built modules for token issuance and custody, enabling a range of institutional financial products. Potential applications include:

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• Token Issuance: Launching and governing Canton-native assets, from wrapped cryptocurrencies to stablecoins and real-world assets (RWAs).
• Custody: Creating multi-signature wallets for holding and transferring assets under shared, multi-party control.
• Tokenized Securities: Bringing traditional financial assets on-chain with distributed governance.
• Financial Applications: Building institutional-grade decentralized exchanges (DEXs), lending protocols, and structured products.

Early Adoption and Ecosystem Impact

The framework is already in use by CBTC, the first non-native asset on Canton. In addition, Palladium Labs was announced as the first new builder to adopt the Decentralization Manager for its institutional credit infrastructure. "Distributed trust and full auditability are table stakes for institutional-grade credit infrastructure," stated Akshay Sinha, Cofounder & CTO of Palladium Labs.

Several existing network participants, including CBTC Attestors Nethermind, DSRV, and Finoa Consensus Services, have also implemented the framework. The launch is positioned as a key step in accelerating the growth of institutional digital assets and tokenized financial markets by providing standardized, secure tools for developers in the Canton ecosystem.