Digital Asset raises $355M to expand Canton Network

Digital Asset raised $355M led by a16z crypto, with major financial firms joining. Funds will expand the Canton Network, focusing on institutional finance and tokenized assets.

Digital Asset, the developer behind the Canton Network, has secured $355 million in a funding round led by a16z crypto, which contributed $100 million. Other participants included major financial institutions and trading firms such as Citadel Securities, Apollo, BNP Paribas, CME Ventures, Coinbase Ventures, HSBC, Optiver, 7RIDGE, and the Abu Dhabi Investment Authority. This latest investment brings Digital Asset’s valuation to approximately $2 billion. The company plans to use the new capital to strengthen its balance sheet, pursue potential mergers and acquisitions, establish new partnerships, and further develop the Canton Network ecosystem. The Canton Network is a layer-1 blockchain designed for institutional finance, focusing on tokenized assets, private settlement, and interoperability. It has reportedly supported $6 trillion in tokenized issuance. The funding round underscores Wall Street’s growing interest in permissioned blockchain infrastructure and the increasing demand for regulated blockchain solutions in traditional finance.