Consensys unveils cross-ledger settlement stack for institutional blockchains

Consensys took the wraps off a new interoperability stack Monday at Devcon in Mumbai. Sovereign Network Interoperability lets banks and financial firms settle transactions across blockchains that run independently — no asset shuffle required. The company says it handles collateral mobility, securities settlement, wholesale and cross-currency payments, plus funds and asset servicing.

At the core is a Cross Ledger Interoperability Protocol built on a decade of zero-knowledge proof research, according to Consensys. That setup delivers bridgeless interoperability: assets stay put on their native ledgers while cross-ledger state and execution get verified cryptographically. Institutions spell out their transaction needs and approved counterparties, and the software picks an eligible route, coordinates execution across the participating ledgers and tracks the outcome.

Consensys President David Cunningham said the product bundles deep protocol expertise, transaction coordination and full support into a single package. That gives institutions a simpler path to each new connection, with verifiable outcomes and clear accountability to keep the whole stack running for years, he added.

The product will also support the Ethereum Economic Zone standard, the Inter-Blockchain Communication protocol and other interoperability technologies. EVM-based networks are available now, while Canton connectivity is planned.

The launch follows Consensys' Oct. 8 partnership with ClearToken to build infrastructure for round-the-clock settlement of tokenized securities and cash. In September, the company also announced plans to separate its consumer and institutional businesses, with MetaMask becoming an independent consumer-focused company while Consensys retains its protocols and institutional infrastructure operations.