New Canton, Kaiko and S&P DGI partnership announced

S&P and Kaiko launch tokenized U.S. Treasury index on Canton network

At Kaiko's Cannes conference, S&P DJI and Kaiko unveiled plans to tokenize the iBoxx U.S. Treasury index on Canton, turning it into programmable on-chain IP.

The iBoxx U.S. Treasuries is being brought natively on Canton alongside DTCC's on-chain Treasuries to support index-linked product issuance on the same infrastructure.

S&P will distribute the index as a smart contract token embedding full index data, IP rights, licensing terms, fees and access controls.

The model treats index data "like a financial asset," enabling traceability, automated fee collection and reusable, scalable licensing on-chain.

On-chain IP and data-as-asset

For S&P, tokenizing indices as full IP products changes how licensing and economics work.

Composability, evergreen contracts and Canton

Both speakers highlighted composability as a key benefit of this design.

S&P's broader digital roadmap

Drinkwater placed the Kaiko and Canton partnership within S&P's longer digital asset strategy.