Consensys Launches Sovereign Network Interoperability Technology Stack at Devcon

On November 2, Consensys announced the launch of Sovereign Network Interoperability at Devcon in Mumbai, India. This technology is designed to route and coordinate transactions between independently operated institutional ledgers. The product targets banks, custodians, asset managers, and financial market infrastructures, covering routing, execution coordination, and transaction tracking. Institutions can specify transaction parties, approved counterparties, and settlement requirements, allowing the product to select eligible paths and track them to completion. The technology stack supports four types of institutional processes: collateral allocation, securities settlement, wholesale and cross-currency payments, and fund and asset services. The core design principle is bridge-less interoperability, where assets remain on their native ledgers, and cross-ledger states and executions are verified through cryptography, eliminating the need for additional trusted intermediaries. The core protocol is Consensys's cross-ledger interoperability protocol CLIP, which plans to support Ethereum economic zone standards, cross-chain communication protocol IBC, and other protocols, connecting Canton with Ethereum-compatible networks. Currently, it supports EVM-based chains, with Canton set to connect later. Institutions can operate independently, through financial market infrastructures, or choose Consensys's custody services.

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