Canton Network Selected for State Welfare Benefits Blockchain Initiative Led by Digital Asset and Ryan Foundation
Starting in 2027, the RISE initiative will leverage Canton Network technology to consolidate and deliver government-administered benefits throughout three American states.
The American Idea Foundation, established by former US House Speaker Paul Ryan, has partnered with Digital Asset—the organization behind Canton Network—to test a blockchain-powered infrastructure for delivering state-administered benefits across three American states utilizing the Canton Network platform.
Set to commence operations during the first quarter of 2027, the RISE program will consolidate various benefit types into unified monthly or bi-monthly disbursements, featuring expenditure restrictions organized by designated categories such as food assistance, child care services, and unrestricted cash funds.
Friday's statement revealed that the infrastructure will feature automatic recalibration of benefit amounts in response to fluctuations in household earnings, while enabling government agencies involved in the program to monitor payment processing, account balances, expenditure patterns, and compliance metrics via the Canton platform. Digital Asset explained that Canton will orchestrate the regulatory framework, access permissions, and transaction protocols governing benefit distribution, while simultaneously restricting exposure to confidential data.
Ryan explained that the pilot project aims to minimize the financial disincentives that frequently impact benefit recipients when their earnings increase:
By combining fragmented benefits, reducing penalties as families earn more, and rigorously measuring results, these pilots can help show what a modern safety net should look like.
Neither organization disclosed the identities of the states participating in the initiative or detailed which specific benefit programs will be incorporated, noting that the pilot projects are still awaiting federal authorization.
Canton expands government-linked use cases
The RISE initiative represents a potential expansion of Canton's portfolio to encompass public benefits administration, complementing the network's recent expansion which has predominantly focused on institutional financial services, including initiatives involving government-issued securities.
During April, a consortium including Japan Securities Clearing Corporation, Mizuho, Nomura, and Digital Asset initiated a proof of concept leveraging Canton to evaluate Japanese government bonds as tokenized collateral, with applications extending to instantaneous, cross-border settlement operations. This initiative received designation for support through Japan's Financial Services Agency Payment Innovation Project program.
Additionally, Canton facilitated the settlement of a tokenized US Treasury transaction between Franklin Templeton and Virtu Financial in July, with Tradeweb managing trade execution and price determination processes. The Treasury instrument was exchanged against USDCx through real-time settlement, a milestone that Tradeweb characterized as unprecedented within the industry.
The network's indigenous token, Canton Coin (CC), which serves as the payment mechanism for transaction fees processed through the network's Global Synchronizer infrastructure, maintains a market capitalization of approximately $4.1 billion and holds the 23rd position among all cryptocurrencies, based on CoinGecko statistics. CC has experienced an appreciation of roughly 10% during the preceding seven-day period.
