onRails Brings SOL to Canton as cSOL, Backed 1:1 and Checkable On-Chain
The team behind cETH says cSOL has been live on MainNet since 15 September and has applied for featured app status. On 9 and 11 October, supply on Canton matched the SOL held in its Solana vault.
onRails, the issuer of cETH on Canton, has launched cSOL, a token backed one to one by SOL. In a featured app application filed on 17 September 2026, onRails said cSOL "has been live on MainNet since September 15". It said the token was already supported by Bron and DFNS.
How it works
Users deposit SOL to receive cSOL, hold and transfer it in Canton wallets and apps, and burn cSOL to redeem their SOL. onRails's whitepaper, dated September 2026, describes a lock and mint model: SOL is held in a vault program on Solana, and a multisig relayer mints or releases on the other side. The token is issued through the Digital Asset Utility registry under the CIP-56 token standard.
Checking the backing
The cSOL transparency page explains how to verify coverage, and CantonCap checked it:
- The Digital Asset Utility registry reported a cSOL total supply of 882.793, as of 22:44 UTC on 9 October 2026.
- The Solana vault account named on that page held 882.793021 SOL when we queried it on 11 October.
The two figures match. At these levels cSOL is still small: worth roughly $100,000 at current SOL prices.
The featured app application
onRails says in its application, filed with the Canton Foundation's Tokenomics group:
- the Super Validator sponsor is Digital Asset;
- the locking party for featured app status is already funded with 25 million CC;
- more than ten venues have confirmed integrations, including Console, Tradecraft, Kora and Modulo;
- an audit has been arranged with Consensys Diligence and the report will be published once it is complete.
These are onRails's own statements. We found no published cSOL audit report yet. For reference, the application points to onRails's cETH audit by Consensys Diligence.
Why it matters
Ethereum and Bitcoin already have wrapped versions on Canton. cSOL adds Solana's native asset, giving Canton venues and market makers SOL to trade, settle and use as collateral. The token's backing can be checked against public data on both chains at any time, which matters for a bridged asset. Liquidity is thin for now: CantonCap's market data shows only a small cSOL pool.
Follow cSOL on CantonCap.
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