Issuing on Canton with Hydra X: Questions Issuers Ask
Hydra X helps institutions bring assets onto the Canton Network by bringing together structuring, tokenisation, infrastructure and regulated services. Issuers can work with one partner without having to operate their own validator node or coordinate multiple service providers. Below, we answer common questions about issuing through Hydra X, including what we handle, how quickly you can launch, privacy, investor access and potential network reward offsets.
What does Hydra X handle when we issue on Canton, and how quickly can we launch?
Hydra X structures and tokenises the asset and operates the infrastructure it runs on. Under our Tokenisation Agent service you issue without deploying or operating a validator node. Hydra X is regulated for dealing and for custody, so the issuance does not have to be assembled across a tokenisation provider, a broker and a separate custodian.
You retain responsibility for the investment product and your obligations as issuer.
Issuers typically move from kickoff to issuance within a few weeks, depending on documentation readiness, compliance requirements and integration scope.
What has Hydra X issued on Canton?
Hydra X has taken both debt and structured products onto Canton and has tokenised over US$100 million in assets on the network. Hydra X operates an Asset Issuer Featured App, and in December 2024 became the first licensed custodian in Asia-Pacific to provide custody for Canton Coin.
How is transaction data kept private, and how do regulators and auditors get access?
Canton uses selective visibility to share sensitive transaction information with authorised parties. Regulator and auditor access can be configured without exposing that information to the wider network.
For an issuance through Hydra X, we work with you to identify the applicable disclosure and oversight requirements and assess the permissions and reporting arrangements needed to support them.
Where can investors hold and trade the token?
The token is issued to Canton’s token standards, so it works with wallets and applications across the network that support those standards.
For investors who require custody, that can also be provided by Hydra X so the holding arrangement can be settled as part of the issuance design rather than sourced separately.
Can we change providers after issuing through Hydra X?
Tokens are issued as standard Daml contracts on Canton rather than records in proprietary infrastructure, so holdings are not locked to Hydra X. What a change involves depends on which service is being replaced: node hosting, custody and tokenisation are separate arrangements with different steps. If provider flexibility matters to your institution, it is better addressed in the issuance design than after issuance.
Can Canton network rewards help offset our operating costs?
Eligible activity associated with assets issued through Hydra X’s Featured App arrangement may generate Canton Coin network rewards and a portion of those rewards can be applied towards reducing your operating costs with Hydra X, subject to prior agreement.
Any offset depends on the applicable network rules, eligible activity, rewards received and agreed terms. It is a potential contribution towards costs, rather than a fixed or guaranteed discount.
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