Cosmos has launched a 17-member Partner Network aimed at helping financial institutions move tokenised deposits and other digital-asset services beyond pilot schemes and into live production.
The network, announced on Sept. 9, brings together custody, compliance, security and blockchain infrastructure companies, including BitGo, Galaxy Digital, OpenZeppelin, Blockdaemon, Hypernative and Blockchain.com.
Cosmos will provide its Tokenization Suite and digital ledger technology, while the participating companies will offer services such as custody, identity verification, transaction monitoring, wallet infrastructure, blockchain nodes, staking, settlement, systems integration and smart contract security.
The network is intended to support tokenised deposits, 24-hour settlement, programmable escrow, trade finance and agentic commerce. Cosmos said its technology supports more than 150 blockchains securing over $70 billion in assets.
The initial members are Anseta, Balance, BCW Group, BitGo, Blockchain.com, Blockdaemon, Coinbax, DFNS, Galaxy Digital, Hypernative, InfStones, OpenZeppelin, Peersyst Technology, Silence Laboratories, Ubyx, Utila and Zeeve.
Cosmos said the arrangement would allow banks to access a wider range of specialist services without having to assemble and coordinate a separate group of providers for token issuance, custody, compliance and operational systems.
“Financial institutions understand the potential of tokenization, but it’s difficult to move from a pilot to a high-quality, live customer experience,” said Cosmos co-CEO Maghnus Mareneck.
Mareneck said the network would reduce the complexity involved in sourcing providers individually. However, Cosmos has not named any banks taking part and has not confirmed that the programme has already resulted in a production deployment.
BitGo takes custody and settlement role
BitGo has joined as the network’s institutional custody and settlement provider. Its services include regulated custody, wallets, trading, financing, staking and stablecoin infrastructure.
The company’s involvement could enable banks to separate the safekeeping of assets from the technology used to issue and transfer tokenised deposits.
BitGo said tokenisation could only work at scale if banks were able to move beyond pilot projects without building a complete vendor stack themselves. Neither BitGo nor Cosmos disclosed commercial terms, the institutions under contract or the specific assets BitGo could custody through the partnership.
Galaxy Digital will contribute trading, financing, asset management, staking and tokenisation services. Blockchain.com will provide institutional over-the-counter trading, market-making and custody functions, while Balance offers custody, settlement, escrow and collateral management.
Several members specialise in wallet technology. DFNS supplies wallet infrastructure for organisations issuing and managing assets on-chain. Utila provides multiparty computation wallets and policy controls, and Silence Laboratories focuses on on-premises custody and quantum-secure wallet technology.
Tokenised deposits at centre of banking plans
The principal banking application targeted by the network is the tokenised deposit. This represents commercial bank money on a programmable ledger and generally remains a liability of the issuing bank, unlike many stablecoins, which represent a claim against a separate non-bank issuer.
Cosmos said its Tokenization Suite can support 24/7 payment settlement and treasury management. The company also identified programmable escrow, trade finance and agentic commerce as possible applications.
Those uses are proposed capabilities rather than confirmed services being delivered by named financial institutions.
Tokenised deposits could allow banks to keep deposits within the banking system while offering some of the transfer and programmability features associated with stablecoins. The model still depends on clear arrangements for redemption, settlement finality, customer identity checks and interoperability between institutions.
Cosmos leadership has previously said interoperability could help drive wider stablecoin adoption. The Partner Network extends that approach to bank-issued money by combining ledger infrastructure with custody, compliance and external integration services.
Security and compliance services
Coinbax will provide transaction-level screening, payment reversibility and programmable escrow controls. Ubyx is focused on linking issuers with banks and fintech companies so tokenised money can be converted into fiat cash equivalents.
Hypernative will offer real-time monitoring, fraud prevention and automated incident response. OpenZeppelin will provide smart contract design, auditing and continuing security services. Blockdaemon and InfStones will add nodes, application programming interfaces, staking and other operational infrastructure.
Those services are intended to address the risks involved in institutional tokenisation. A live system must protect private keys, screen transactions, prevent unauthorised transfers and continue operating during network failures. Banks must also determine how responsibility is shared when several providers are involved in a single transaction.
Security remains a significant concern across blockchain infrastructure. In related coverage, a Cosmos EVM vulnerability affected six networks and enabled approximately $5.72 million in asset theft. That incident involved Cosmos EVM software rather than the newly announced Partner Network, but it underlines the importance of monitoring, audits and incident response for institutional systems.
Cosmos yet to announce live deployments
Cosmos says its technology supports more than 150 blockchains and secures over $70 billion in assets. Those figures are company-provided measurements of its ecosystem and do not indicate how much institutional tokenised-deposit activity currently uses its systems.
The company has not published fees for joining the Partner Network, technical certification requirements or revenue-sharing arrangements. It has also not said which partners are already integrated with the Tokenization Suite and which will need further development work.
Cosmos said network members could be introduced to financial institutions using public and private Cosmos networks. Partners may also take part in future tokenised-deposit projects, although membership does not guarantee a contract or commercial deployment.
The company has said it plans to add more partners but has not provided a timetable or target membership figure.
The next significant milestones will be the announcement of named bank customers, live tokenised deposits, completed custody integrations and transaction volumes. Until those developments occur, the Partner Network remains a coordinated institutional services framework. Its commercial impact will depend on whether banks use the combined provider network to launch customer-facing tokenisation products instead of continuing with limited pilot programmes.
