Rho Labs launches Rho Relay for private cross‑chain settlement on

Rho Labs announced the launch of Rho Relay on May 15 2026, a bridge‑like service that lets Ethereum‑compatible markets trade Canton Coin (CC) directly on the Canton network without routing through a centralized exchange [1]. The new layer offers private request‑for‑quote (RFQ) execution, eliminating automated‑market‑maker slippage, providing atomic settlement and full auditable privacy [1].

Built as more than a conventional bridge, Rho Relay positions Canton as a private settlement layer for cross‑chain trading across assets and networks. By routing EVM users through a private settlement layer rather than fragmented bridges or centralized venues, the protocol can expand the number of settlement routes as additional chains integrate [1]. Alex Ryvkin, founder and CEO of Rho Labs, said the service “turns Canton into a native settlement destination for DeFi flow,” emphasizing the move toward institutional‑grade, non‑custodial market infrastructure [1].

The launch extends Rho Labs’ focus beyond its flagship Rho X market, which since its 2024 debut has generated over $58 billion in cumulative trading volume and consistently exceeds $4 billion in monthly volume [1]. Founded in 2022, the company aims to become a universal institutional trading venue for crypto‑native rates, settlement and cross‑chain execution, and Rho Relay is the latest step toward that goal [1].

For traders and institutions eyeing privacy and capital efficiency, Rho Relay offers a direct DeFi entry point into the Canton ecosystem, potentially reducing reliance on centralized exchanges and improving settlement quality. As more routing partners and chains join, the network’s settlement capacity could grow, but the extent of liquidity and adoption remains to be seen.

The real question now is whether Rho Relay can attract sufficient DeFi flow to make Canton a dominant private settlement hub, or if competing bridges and emerging layer‑2 solutions will limit its impact.