Northern Trust Applies to Become Validator Operator on Canton Network

Northern Trust Moves Toward Canton Network Validator Role

Northern Trust, one of the world’s largest custodians, has officially submitted an application to become a validator operator on Canton Network. The move was highlighted on May 4, 2026, and is part of a broader push by the firm to offer custody services for tokenized financial assets directly on the institutional blockchain network.

With $1.8 trillion in assets under management, $175 billion in banking assets, and $18.6 trillion in assets under custody, Northern Trust aims to provide regulated, on-chain custody solutions to its institutional clients through Canton. This would allow them to hold and service tokenized assets natively on the network rather than relying on third-party custodians.

Northern Trust’s Strategic Entry into Enterprise Blockchain Infrastructure

Northern Trust’s application to become a validator operator on Canton Network is more than just a technical step, it represents the firm’s deliberate move to position itself at the center of tokenized asset custody. Canton Network, developed by Digital Asset Holdings, is a privacy-focused public blockchain built specifically for regulated financial institutions using DAML smart contracts.

By running its own validator node, Northern Trust gains the ability to offer clients direct, compliant on-chain custody and asset servicing without depending on third-party providers. This is a significant evolution from traditional off-chain custody models and signals growing confidence among the world’s largest custodians in enterprise-grade blockchain infrastructure.

What Readers Should Watch Next

• Application Status & Approval Timeline: Whether Northern Trust’s validator operator application is approved and the timeline for going live on Canton Network.
• First Custody Product Launch: When Northern Trust begins offering tokenized asset custody services to institutional clients on Canton.
• Other TradFi Institutions Joining: Whether more major custodians and banks such as BNY Mellon and State Street follow Northern Trust and apply to become validators on Canton.
• Tokenized Asset TVL Growth on Canton: Any measurable increase in tokenized securities and real-world asset volume once Northern Trust’s custody services go live.