DigitalX Limited, a prominent ASX-listed blockchain technology company, today revealed that it has partnered with Canvas, the creators of Connect, the privacy-focused ZK Layer 2 blockchain.
AUSTIN, Texas , April 28, 2023 /PRNewswire-PRWeb/ — Canvas and DigitalX Limited, a prominent ASX-listed blockchain technology company, today revealed that they have partnered with Canvas Connect, the privacy-focused ZK Layer 2 blockchain, to test it in in their business.
DigitalX has completed testing the Canvas Connect the Layer 2 network in its own projects with successful trading of Stablecoins for Tokenised Real World Assets.
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DigitalX intends to adopt Canvas Connect as one of its preferred zkrollup solutions for future client projects. This adoption will ensure that both DigitalX and its customers benefit from the confidentiality, privacy, scalability and low transaction fees provided by Canvas Connect.
Canvas Connect offers a privacy-driven zkrollup, with confidentiality, high scalability and low transaction fees, making it an ideal solution for the financial industry looking to implement blockchain technology while remaining compliant with regulatory requirements.
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The partnership between Canvas and DigitalX demonstrates both companies’ commitment to driving innovation and progress as traditional finance evolves into blockchain-based networks.
Why this matters
It combines DigitalX’s expertise in areas such as blockchain development, financial services and regulatory compliance with Canvas’ proven privacy-focused Layer 2 Blockchain. Canva’s confidential and privacy-focused Layer 2 Blockchain was specifically designed for financial institutions, governments and enterprises to seamlessly expand their capabilities to tokenize various financial products (such as central bank digital currencies, bonds, bank deposits and securities, etc.) and the digital economy as a whole. Canvas solutions provide assurances of privacy, confidentiality, scalability and low transaction costs, all secured by Ethereum.
Key quotes
David Lavecky, CEO of Canvas Digital: “This is an exciting opportunity for Canvas to demonstrate the power of our privacy-focused Layer 2 blockchain network. By working together, we can provide DigitalX and its customers with innovative and efficient solutions that leverage their full potential of a privacy-focused blockchain technology, driving innovation and transformation across financial markets.”
Lisa Wade, CEO of DigitalX: “Partnering with Canvas Digital gives us access to their privacy-focused Layer 2 blockchain network, Canvas Connect, which offers privacy, confidentiality, scalability and low transaction costs. This will enable us to better serve our customers revolutionizing traditional financial systems and exaggerating our key strategic initiatives, our real asset tokenization fund and digitizing investment processes.
David Lavecky, CEO of Canvas Digital: “The challenge facing financial institutions, governments and enterprises when adopting public blockchain networks is the lack of privacy, high and insecure transaction fees and slow transaction speeds. By leveraging Canvas Connect, DigitalX can deliver comprehensive solutions that leverage the confidentiality offered by zero-knowledge proofs, the scalability and low-cast offered by a Layer 2 network.This collaboration enables DigitalX to continue its mission to embrace the benefits of blockchain technology while maintaining privacy, efficiency and cost-effectiveness, thereby paving the way way for safer and more efficient financial markets.”
About Canvas
Canvas is a global blockchain company with a mission to digitize finance. Canvas services consist of a confidentiality-focused Layer 2 ZK network, together with a number of critical financial market applications that enable the transfer, trading and investment of digital assets with assurances of privacy, confidentiality, low cost and high speed.
Canvas was created in the belief that similar to the rise of the internet and e-commerce, Blockchain, Digital Currencies & Tokenised Assets will radically transform the financial and capital markets over the next decade with trillions of $ of securities and currencies to be tokenised and traded 24/7/365.
About DigitalX Limited
DigitalX is a technology and investment company focused on growing the blockchain economy through its digital asset fund management business, digital fintech and regtech products, and blockchain ventures.
DigitalX’s product team designs and develops blockchain technology applications for business and enterprise organizations.
Through its asset management division, DigitalX offers traditional asset management products at low costs to qualified investors seeking exposure to the growing alternative asset class of digital assets, including Bitcoin.
DigitalX is currently commercializing Drawbridge, the company’s first regtech solution that supports listed companies to better manage their compliance and corporate governance policies. With Drawbridge, companies can manage employee and director stock trading approvals to safeguard their reputation.
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ENDS
Media contact
Nancy McDonald, NMDPR, 61 474 432 437, [email protected]
SOURCE NMDPR
