Financial technology company Digital Asset will start a privacy-enabled interoperable blockchain network designed to provide a decentralized infrastructure for institutional clients, the firm announced on Tuesday.

“The Canton Network is a powerful answer to industry calls for a solution that harnesses the potential of blockchain while preserving fundamental privacy requirements for institutional finance,” Chris Zuehlke, partner at DRW and global head of Cumberland, another participant, said. “This unique approach, coupled with the ability to execute an atomic transaction across multiple smart contracts, is the building block needed to bring these workflows on chain.”