Key facts
- Digital Asset, developer of the Canton Network, raised $355 million in a funding round.
- The round was led by a16z crypto, with participation from TradFi and DeFi institutions.
- The company was valued at approximately $2 billion.
- The funds will be used to scale the Canton Network, a permissioned blockchain for institutional finance.
- Canton Network supports tokenized asset workflows with configurable privacy features.
- Major financial institutions including Abu Dhabi Investment Authority, Citadel Securities, CME Ventures, and HSBC participated in the round.
Digital Asset, the company behind the Canton Network, has secured $355 million in a new funding round led by a16z crypto. The round values the company at approximately $2 billion and includes participation from a diverse range of global investors, including sovereign wealth funds and major financial institutions such as the Abu Dhabi Investment Authority, Citadel Securities, CME Ventures, and HSBC.
The capital infusion is intended to support the growth of the Canton Network, a public, permissioned blockchain designed for institutional finance. The network operates as a "network of networks" to facilitate transactions involving real-world assets like bonds, equities, and commodities, while allowing participants to maintain control over their systems and adhere to privacy and compliance needs.
Digital Asset CEO Yuval Rooz stated that the infrastructure reflects how institutions operate and highlighted the network's ability to support privacy and compliance. Since its debut nearly two years ago, Canton has attracted over 700 ecosystem participants. The company has previously raised approximately $490 million in funding.