Canton Strategic Sells Biotech Arm to Focus on Network

Canton Strategic (CNTN) sold its Gravitas Life Sciences unit, the company said, moving to narrow its focus on the Canton Network and the digitization of financial markets. The deal sheds one of the company's two operating divisions. The remaining business centers on the blockchain-based Canton Network, which connects financial institutions for tokenized asset settlement and data sharing. The sale follows a period of testing for the network, which has attracted banks and asset managers. Canton Strategic did not disclose the buyer or the sale price. The company said the proceeds will support the network's expansion. The move aligns with a broader push by some financial technology firms to consolidate around tokenization infrastructure, where Canton Network competes with platforms from firms such as Digital Asset and R3.