Digital Asset's Proof of Transfer API Makes Private Canton Transfers Verifiable, With Bybit Integrated
Wallets and exchanges can expose a Transfer Object that users check in a compatible explorer, showing whether a transfer succeeded without revealing its confidential details.
Digital Asset introduced a Proof of Transfer API on 29 September 2026, part of its DA Registry, to let users and counterparties check the status of a transfer on the Canton Network without seeing its confidential details. Digital Asset says Bybit has already integrated it.
The problem it addresses
On most public blockchains, anyone can paste a transaction hash into an explorer and see whether a payment went through. Canton's privacy model does not work that way: transaction details are visible only to the parties involved. That makes routine questions, such as whether an exchange deposit has arrived, harder to answer for anyone outside the transaction.
How it works
- A Transfer Object. Wallets and exchanges can expose a Transfer Object for a given transaction to their users.
- A status check. The user enters it into a compatible block explorer, which shows whether the transfer is successful, pending, failed or in an error state.
- No disclosure. According to Digital Asset, the check confirms the status without revealing confidential transaction information.
Digital Asset names several groups that can use it: wallet and exchange users and their counterparties, the wallets, exchanges and explorers that integrate it, and issuers seeking exchange listings for their assets. It says the API can reduce disputes and fraud risk and give users a more familiar way to track transfers. Developer guidance for explorers is on Digital Asset's documentation site, and for wallets and exchanges on the Canton Network documentation.
Who is using it
Digital Asset says Bybit has integrated the API so that its users can independently verify cross-exchange and cross-wallet transfers of Canton's privacy-enabled assets. It cites USDCx as an example of such an asset. DA Registry has also integrated it for holders of the assets it issues.
The company says the API is already being adopted across the Canton ecosystem. It did not publish usage figures or name other integrations.
Why it matters
Exchanges need a reliable way to confirm deposits and withdrawals, and support teams need something to point to when a customer asks where a transfer is. Canton's confidentiality has made that harder than on transparent chains. A standard proof that a transfer landed, adopted first by a major exchange, removes one of the practical frictions in listing and moving Canton-native assets, without giving up the privacy institutions chose Canton for.
Follow USDCx and Canton Coin on CantonCap.
Sources
