Blockchain software firm Consensys announced the launch of its Sovereign Network Interoperability stack at Devcon in Mumbai, giving banks and financial institutions a way to settle transactions across independently operated blockchains without moving assets off their native ledgers.
The new product supports collateral mobility, securities settlement, wholesale and cross-currency payments, and funds and asset servicing. It includes a Cross Ledger Interoperability Protocol built on a decade of zero-knowledge proof research, enabling bridgeless interoperability so assets remain on their original ledgers while cross-ledger state and execution are cryptographically verified.
Under the system, an institution specifies transaction requirements and approved counterparties. The software then selects an eligible route, coordinates execution on participating ledgers, and tracks the outcome. Consensys President David Cunningham said, “We are bringing deep protocol expertise, transaction coordination and complete support into one product. The result is a simpler path to each new connection, with verifiable outcomes and clear accountability for keeping the full stack working for years to come.”
The interoperability stack will 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 develop infrastructure for round-the-clock settlement of tokenized securities and cash, and its September decision to separate its consumer and institutional businesses.
