ClearToken Unveils PvP Settlement Offering

Digital asset infrastructure player ClearToken says it is planning to launch three digital asset platforms (Daps) on the Canton Network, one of which will offer a similar function to CLS in the FX industry.

The three Daps – CT Register, CT Pay and CT Settle – are intended to bring the benefits of more efficient settlement to the stablecoin industry. The Register offering tokenises fiat and stablecoins (with securities to follow the firm says), with positions reflected on Canton as data tokens, enabling programmable, auditable settlement workflows within ClearToken’s financial markets infrastructure (FMI) perimeter.

CT Pay, meanwhile, will offer single-sided payments and payment-versus-payment (PvP) settlement, something the firm notes, is “the stablecoin equivalent of CLS”, eliminating Herstatt risk in cross-currency transactions by simultaneously discharging both payment obligations atomically across multiple banks.

CT Settle offers delivery-versus-payment (DvP) net settlement across fiat, as well as DvP and net settlement across cryptoassets and stablecoins. Canton’s atomic composability ensures all settlement legs complete simultaneously or not at all, eliminating principal risk at the infrastructure level.

“CT Register, CT Pay and CT Settle deployed on Canton give institutions the regulated end-to-end settlement stack they need to unlock tokenisation, by providing PvP payment certainty and DvP finality of settlement across every form of digital money,” says Benjamin Santos-Stephens, CEO of ClearToken. “We also continue to pursue Bank of England authorisation to launch our fourth core offering, CT Clear, [which] will be our clearing service, designed to reduce counterparty risk by interposing a trusted intermediary between trading counterparties.”

Mark Williamson, CCO of ClearToken, adds, “For the first time, a Canton participant can tokenise an asset, settle a cross-currency payment atomically via PvP, and complete DvP settlement all within one regulated environment spanning fiat, tokenised deposits, stablecoins and crypto. That breadth is unique in the market.”

While ClearToken is FCA-authorised in the UK, the Register service will also be provided by a subsidiary company, once authorised. The firm stresses all services will be operated by FCA-authorised or Bank of England-supervised entities within the ClearToken group.

“ClearToken’s rollout on Canton will help bring institutional-grade controls to tokenised cash and stablecoin FX,” says Yuval Rooz, CEO, Digital Asset. “What stands out is the combination of FCA-authorised market infrastructure with Canton’s privacy-preserving interoperability, enabling firms to move from issuance through payment and settlement with stronger certainty around finality and risk. It’s a practical blueprint for how regulated markets can adopt tokenisation at scale.”