CONSENSYS LAUNCHES CROSS-LEDGER SETTLEMENT AND ROUTING STACK

Summary from the TLDR Crypto newsletter

Launched at Devcon in Mumbai, “Sovereign Network Interoperability” lets banks settle across independently run blockchains without moving assets off their native ledgers. It covers securities settlement, collateral mobility, wholesale and cross-currency payments, and funds servicing. A Cross Ledger Interoperability Protocol built on zero-knowledge research verifies cross-ledger state cryptographically, with no bridges. An institution sets its requirements and approved counterparties, and the software picks a route, coordinates execution, and tracks the result. EVM networks are supported now, with Canton planned, and it will also support the Ethereum Economic Zone standard and IBC. The launch follows Consensys' October 8 ClearToken partnership and September split of MetaMask from its institutional business.