The Litecoin Foundation signed a memorandum of understanding with Greywick Digital on October 1, 2026, to develop cLTC, a tokenized version of Litecoin built on the Canton Network, according to a statement from the foundation.

The agreement positions cLTC as a reserve-backed wrapper of LTC circulating on Canton's institutional-grade blockchain, with Greywick Digital handling issuance and independent attestation of the underlying collateral. The Litecoin Foundation has designated cLTC as the official institutional representation of Litecoin.

What does the MOU cover?

Under the arrangement, real LTC gets locked in reserve and a corresponding token is issued on Canton, where banks, custodians and market infrastructure providers already maintain trading and settlement workflows.

Greywick specializes in token issuance and third-party attestation on the network. The firms stated that reserves backing cLTC will be disclosed publicly once the token launches. The token will be issued under CIP-56, Canton's native token standard.

Why Canton for a Litecoin wrapper?

Canton is a public blockchain engineered for institutional finance. Its participant roster includes the Depository Trust & Clearing Corporation (DTCC), Goldman Sachs, and BNP Paribas, all of which use the network for tokenized real-world asset transactions with programmable privacy controls.

A tokenized LTC lets buy-side firms and banks take exposure to the asset inside infrastructure they already operate, rather than integrating each native blockchain one by one. Greywick's role covers both sides of that arrangement: creating the token and engaging an independent verifier to confirm the backing exists.

For Litecoin's community, Canton represents a new venue. The network has processed over 417 million transactions since launching in 2011 and the foundation cites 100% uptime over that period, but the asset has rarely appeared on institutional balance sheets.

What conditions sit on the timeline?

The mainnet rollout is slated for late 2026. Two gates stand between the MOU and a live token:

• Completion of testnet validation
• Publication of public reserve disclosures

No firm launch date has been set.

What are the risks and signals to watch?

Any tokenized asset introduces issuer dependency and reserve risk, which is precisely why the attestation and disclosure architecture of this deal carries weight. Should the issuer or its reserve custodian face operational or legal stress, holders of cLTC would rely on the redemption mechanism and the underlying LTC, not on Canton's settlement layer, for recourse.

Investors and counterparties should monitor three signals:

• Reserve disclosure publication, which the MOU ties directly to launch
• Testnet validation milestones
• Institutional uptake of cLTC on the network once it goes live

The announcement comes as tokenized real-world assets continue migrating from pilot programs to production workflows on Canton and competing institutional chains, with major market infrastructure providers evaluating which digital assets merit native representation.