Consensys introduced Sovereign Network Interoperability, a stack for securities settlement, cross-currency payments, and collateral mobility across ledgers.
Key Facts
Consensys launched Sovereign Network Interoperability, a technology stack connecting independently operated institutional ledgers, at Devcon in Mumbai.
The stack supports securities settlement, cross-currency payments, collateral mobility, and funds and asset servicing without moving assets off their native ledgers.
EVM-based networks are supported now, with connectivity to the Canton Network planned.
Consensys launched a technology stack called Sovereign Network Interoperability on Monday, aimed at letting financial institutions settle transactions across separately operated ledgers.
The stack lets institutions coordinate securities settlement, cross-currency payments, real-world asset (RWA) collateral mobility, and funds and asset servicing across ledgers without routing assets through bridges or moving them off their native networks, Consensys said in a blog post.
Built on a Decade of Zero-Knowledge Research
Consensys unveiled the stack at Devcon, the annual Ethereum developer conference, held this year in Mumbai.
At the center of the stack is a Cross Ledger Interoperability Protocol, which Consensys said draws on a decade of zero-knowledge proof research. The company described the approach as “bridgeless interoperability,” meaning the state and execution of cross-ledger transactions are verified cryptographically rather than through a third-party bridge.
In practice, an institution sets its transaction requirements and approved counterparties, and the software selects an eligible route, coordinates execution across the participating ledgers, and tracks the result. EVM-based networks can use it now, and Consensys said connectivity to the Canton Network is planned.
“We are bringing deep protocol expertise, transaction coordination and complete support into one product,” said David Cunningham, president of Consensys.
The launch builds on an Oct. 8 partnership with ClearToken, in which Consensys is providing interoperability and tokenization technology for a planned round-the-clock settlement service for tokenized securities and cash. Other exchanges have moved on similar infrastructure this month, including Broadridge’s on-chain governance tie-up with NYSE’s pending tokenized securities platform.
Other Banks Are Building Similar Settlement Rails
The stack arrives as Consensys reorganizes its business. In September, the company said it would split into two independent entities, with MetaMask becoming a standalone consumer company while Consensys retains its protocol and institutional infrastructure operations.
Other institutions have pursued similar goals this year. Standard Chartered built its own tokenized deposits platform in Hong Kong this month on the city’s EnsembleTX infrastructure, aimed at the same cross-border settlement needs.
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