Building tokenized funds on Canton: looking for fund sponsors, feedback and a Champion for RFP 11 and 12
Hi everyone,
I’m Sebastián, founder of ETP Foundry (we were CrossDesk, DeFi / Financial Applications track winner in HackCanton Season 2). I’d like feedback on what we’ve built, and I’d like to find the fund companies who want to be first.
What we built
A toolkit that lets a fund company launch and run a tokenized fund (an ETP) on Canton without building the plumbing. The fund’s share is a standard Canton token (CIP-0056). Market makers create and redeem shares in one atomic transaction, with the basket or with cash. The daily NAV is calculated automatically, and the fund’s own parties (sponsor, token issuers, administrator) sign it on the ledger, or refuse. We never sign and never hold keys.
Why it matters for Canton
Institutions are here and the assets are here, but almost no funds exist on Canton, because each one means building custody, creation and redemption, valuation, sign-off and records from scratch.
A fund whose value is signed by the parties responsible for it is something other apps can rely on. A lender can accept the shares as collateral without redoing the checks, a venue can list them, an auditor can trace them.
Creating and redeeming in one transaction removes the settlement gap and the failed-trade risk, and it runs at any hour. For a fund company that means less reconciliation and less manual work. We are not publishing savings figures until a sponsor has measured them.
More fund products mean more reasons for institutions to come to Canton and trust it.
What works today (DevNet only, no money value)
Our own validator, approved by the Canton Foundation, has run since 24 Sep. Test funds hold real DevNet cBTC, cETH and Canton Coin, created and redeemed atomically. Fund shares as a standard Canton token, and cash creation and redemption, are built and deployed. No outside party holds a signing seat yet. That is exactly what we are looking for.
What I’m doing next
I’m reaching out directly to fund sponsors and ETP issuers who might want a Canton version of a fund they already run, and to banks and large funds who might hold or pledge it. If you are a fund company, or you work with one, and you’d like to be first, I’d love to run a free DevNet pilot with you.
Where I’d love feedback
First: is “toolkit for tokenized funds” the right framing for institutions on Canton? What would make it clearer?
Second: which assets would you want in a first fund?
Third: if you are a sponsor, administrator, custodian, market maker or lender, what would you need to see before taking part?
Fourth: we plan to apply to the Canton Development Fund for RFP 11 (public verifiability) and RFP 12 (real-world asset standards), as open tooling any issuer can reuse. Both need a Champion from the Tech & Ops Committee. Is anyone open to talking about that, or about overlap with work already under way?
Site: Roadmap — ETP Foundry · Contact: sebastian@etpfoundry.com
ETP Foundry is not registered with any financial regulator, and our code has not been independently audited. Everything above is on Canton DevNet, and nothing here is an offer to investors.