Greywick’s new application targets launch around November 1. cLTC remains pre-launch; Featured Asset status is requested.
Greywick Digital has applied for Featured Asset status for cLTC, its planned Litecoin-backed asset on Canton, with a production launch target around November 1.
The filing, published on October 24, gives a more specific timetable than the end-of-2026 target announced with the Litecoin Foundation agreement. It is a pre-launch application, not confirmation that cLTC is available or has been approved for rewards.
The exact date is not settled in the filing: one answer says before November 1, while another names November 1 as the expected go-live date. Greywick’s website still labels cLTC “In build”.
Greywick’s timetable has become more specific, while the asset remains pre-launch. Sources: October 1 announcement and Featured Asset application published October 24. Status at October 24, 2026, 13:33 UTC. Editorial timeline; future steps are conditional.
How Litecoin would back cLTC
cLTC would represent Litecoin held in reserve, allowing the asset to be used on Canton without moving Litecoin itself off its original network. Greywick’s published design pairs each cLTC with one LTC and limits transfers to holders with the required identity credentials.
The application says new cLTC would be issued only after enough authorised verifiers confirm a Litecoin deposit and sufficient reserve backing. For redemption, cLTC would first be locked. Litecoin would then be paid out, and the corresponding cLTC destroyed only after that payment is confirmed.
This links the token supply on Canton to the reserve on Litecoin. The October 1 announcement made go-live conditional on publishing reserve addresses, reserve-confirmation details and the launch sequence.
The reward request is a separate step
Greywick is applying as an asset issuer. It wants cLTC to earn Canton Coin rewards from qualifying transfers and trades through eligible Featured Apps. Proposed delivery-versus-payment activity, where an asset and its payment move together, depends on venue integration.
Canton’s Featured App Guidance 2.0b distinguishes rewards for applications from those for the assets they move. Greywick also asks for an exception to the usual 14 days of history on MainNet, Canton’s production network, because its first production launch is still ahead.
What has been tested
Greywick reports an October 20 test on Canton DevNet, a development environment. It used 0.5 LTC from Litecoin regtest, an isolated test chain, to mint 0.5 test cLTC and test its activity markers, the records used to claim app rewards. That is test evidence described by the applicant, not a deposit of real Litecoin backing a live Canton asset.
The filing also draws a distinction between earlier security work and cLTC itself. Some of its signing code comes from work reviewed during a Stroom.Network audit. Greywick says cLTC’s Canton contracts, full application and later changes to the signing code have not yet had an independent third-party audit, with further auditing planned in the coming months.
The next milestone for prospective holders is confirmation of the production launch and its reserve disclosures. The November target and the Featured Asset review remain separate from that confirmation.
Sources: Greywick’s cLTC Featured Asset application, the October 1 announcement and Greywick’s cLTC design.
