Digital Asset secures $355 million to expand its Canton Network blockchain for institutional tokenization and settlement.
Digital Asset Holdings raised $355 million in a funding round led by Andreessen Horowitz’s crypto arm, valuing the firm at approximately $2 billion. The capital will accelerate development of the Canton Network, a blockchain designed for financial institutions to tokenize and settle traditional securities while maintaining data privacy.
The round exceeded initial expectations of $300 million and included participation from 7RIDGE, Abu Dhabi Investment Authority, Citadel Securities, and Optiver. Major banks and exchanges, including Goldman Sachs, BNY Mellon, and Deutsche Börse, have already piloted the network.
The funding reflects Wall Street’s growing adoption of permissioned blockchain infrastructure for regulated financial applications. Digital Asset’s cofounder noted the milestone caps nearly 12 years of development since the firm’s spin-out from DRW.