Ryan Trinkle

[Tradecraft @tradecraftfi]

The first trades of a tokenized U.S. stock under the SEC’s Innovation Exemption have been executed on Canton via TSV LLC.

Not a wrapper. Not a synthetic. Real CNTN shares, with the same rights as on Nasdaq.

What powers TSV LLC? The Tradecraft protocol.

[Joshua Frank @Joshua_Frank_]

1/
I'm already a large Canton holder. I'm buying more.

My thesis: Canton is winning real financial use cases while CC's economics are improving.

I think the market is underestimating what happens if those two trends reinforce each other.

Here's why.

[Don Wilson @drwconvexity]

Two milestones for @CantonNetwork in the last 48 hours!

SEC staff issued a no-action letter stating its view that $CC is a digital commodity: https://t.co/ttghtpA706

The first TSV on any chain was launched on Canton with transactions in a tokenized security under the SEC’s Innovation Exemption. https://t.co/eRK0tHDVrq

This demonstrates that on @CantonNetwork it is possible for issuers to permit their stocks to transact on-chain without the risk of their investors being subject to MEV and information leakage.

[Eleanor Terrett @EleanorTerrett]

🚨NEWS: TSV LLC, the first venue to notify the @SECGov it intended to operate under the Innovation Exemption, has executed its first tokenized stock trades, becoming the first TSV to do so.

According to a press release, Five North sold tokenized shares of Nasdaq-listed Canton Strategic Holdings ($CNTN) to DRW Cumberland on TSV LLC’s venue, which uses the Tradecraft protocol on Canton. Flowdesk provided liquidity, and Fairmint recorded the shares as transfer agent.

[Canton Strategic Holdings @CantonStrategic]

U.S. equities are entering a new era of onchain trading. The first trade of Canton Strategic Holdings' tokenized shares was executed on TSV, with atomic settlement on the @CantonNetwork under the SEC’s Innovation Exemption framework, marking a major step forward for tokenized securities.

Read more: https://t.co/UiaEPEJ4iV

[Tradecraft @tradecraftfi]

A landmark first, powered by the Tradecraft protocol.

Delivered in collaboration with exceptional partners.

Only on the Canton Network.

[Ali Abrar @aliabrar]

And, last but not least, special thanks to @wesarn_real for believing in this from the start. 🤝

[Ali Abrar @aliabrar]

And, of course, we couldn't have done it without the outstanding team at @obsidian_llc 🤝

[Ali Abrar @aliabrar]

We couldn't have done this without @CantonStrategic 🤝

We couldn't have done this without @FiveNorthHQ 🤝

We couldn't have done this without @Fairmint 🤝

We couldn't have done this without @CumberlandSays 🤝

We couldn't have done this without @flowdesk_co 🤝

We couldn't have done this without @CantonNetwork 🤝

[Ali Abrar @aliabrar]

Today the first live trades of actual tokenized NMS stock were executed on @tradecraftfi. $USDCx for $CNTN. https://t.co/8U7BBrSmxH

Firsts like this are always the work of many hands and I'm thankful for everyone who made this happen.

[W Eric Saraniecki @wesarn_real]

That was a fun 48 hours around here and a great example of the crypto native / tradfi worlds converging in Canton

SEC gives some quality clarity on $CC - taking the launch route we did was not easy but has been worth it

I got to buy $CNTN on @tradecraftfi from my @canton_loop wallet in an AMM and deliver to my @bronwallet after the close

Last but not least, aped into some $PAUL on @supanova_app - im enjoying that nitwit xrp sycophant in meme form - heard the @squidrouter bridge got maxed out today and saw @temple_ny scramble to help

Lots more behind the scenes coming soon

[Ryan Trinkle @RyanTrinkle]

@RebeccaRettig1 @SECGov Respectfully, I disagree. Note that they aren't objecting to tokenization in general, but to tokenization by this venue at this time. I don't know what's behind these specific objections, but issuers I've spoken to have cared deeply about ensuring tokenization is done right.

[Ryan Trinkle @RyanTrinkle]

@EleanorTerrett @okx @ICE_Markets I think that generally issuers want to ensure that tokenization is done *right* - that their investors are protected, markets run smoothly, etc. The notice-and-objection approach doesn't give them confidence in that.

[Yuval Rooz @YuvalRooz]

https://t.co/YkeLejXYpv

$CC @CantonNetwork

[miles jennings @milesjennings]

Incredible. @CantonNetwork just received no action relief from the SEC for its network token.

The @SECGov's token taxonomy from March and follow up FAQs have now created a clear pathway out of securities laws—Network tokens are digital commodities.

[Fairmint @fairmint]

If a public company tokenizes its shares but keeps the official register offchain, someone still has to reconcile the two records.

Fairmint takes a different approach: the authoritative shareholder register itself is maintained onchain.

One official record, not a tokenized copy.

[Ryan Trinkle @RyanTrinkle]

@EleanorTerrett @okx @ICE_Markets Many issuers seem to be concerned about liquidity fragmentation, preservation of shareholder rights, and market efficiency. That's why we've been working directly with issuers at TSV LLC rather than trying to go around them.

[Tim Draper @TimDraper]

I backed @fairmint because I believed the future of equity would be onchain.

Today, that vision is becoming reality. Real shares, real ownership, 24/7 markets.

Congratulations to the @Fairmint team! The future of capital markets is being built! 🚀

[NoBullCrypto @NoBullCryptoBen]

1. TSV LLC plans to start trading CNTN as early as Monday, Nov 2, on Canton via the Tradecraft protocol, with atomic settlement.

2. @fairmint , an SEC-registered transfer agent, issues the tokens and keeps the official records. The company sponsors it itself, so no 30-day objection window. OKX-ICE took the third-party route and got 33 objections.

3. CNTN is a Super Validator.
It was approved in early 2026 and sits on the Canton Foundation Board.

- It raised $545M in Nov 2025, led by DRW and Liberty City Ventures with the Foundation participating.

- Active SV weight is 0.5, approved up to 15, so up to 30x through Q1 2028.

- 3,714,204,876 CC as of June 30, 2026

- It also sells locking-as-a-service to SVs and Featured Apps, off the back of CIP-0105 and CIP-0116.

- Q2 SV revenue was $191,226, including a one-time catch-up of escrowed rewards.

This is truly impressive, however it's an SV listing its own shares on its own network.
The rails work, but that doesn't show outside issuers want this. That will be the ultimate test, fingers crossed 🤞🏻

[Don Wilson @drwconvexity]

Today @CantonStrategic announced its partnership with TSV and @fairmint to bring its shares to @CantonNetwork. These shares will carry the same rights as its Nasdaq stock, adding the benefits of 24/7 trading and atomic settlement. It’s been a big week for demonstrating the efficiencies possible on Canton! https://t.co/v6U171CN93