Swap Monster has added cETH trading on Canton, giving participants another venue for onRails’ wrapped ETH token. Both the venue and onRails confirmed the listing on September 8.
cETH allows ETH to be used in Canton applications. ETH deposited on Ethereum is matched by cETH minted on Canton at a one-to-one ratio. Holders can unwrap the token back to ETH through the protocol’s redemption process.
The underlying ETH is held in protocol-controlled smart contracts on Ethereum, while cETH is used on Canton.
On Swap Monster, participants request a private quote for the amount they want to trade. They can choose counterparties, compare prices and accept an offer. The payment and cETH then settle together on Canton.
This request-for-quote model lets counterparties negotiate trades privately instead of displaying orders on a public order book.
The addition brings cETH into that existing trading setup, expanding where the token can be exchanged on Canton.
