Key Takeaways
- • Digital Asset Holdings is raising approximately $300 million at a $2 billion valuation, with Andreessen Horowitz's a16z crypto leading the funding round expected to close within weeks.
- • The round follows a $50 million strategic investment in late 2025 from BNY Mellon and Nasdaq, alongside continued backing from existing investors DRW and Citadel Securities.
- • Canton Network, the company's privacy-enabled blockchain infrastructure, recently demonstrated institutional adoption by facilitating the first cross-border intraday repurchase agreement using tokenized British government bonds.
- • FT Partners is advising Digital Asset on the funding round, positioning the company as a key player in institutional-grade blockchain infrastructure for tokenized asset connectivity across financial institutions.
Summary
Digital Asset Holdings, the developer of Canton Network, is pursuing a $300 million funding round at approximately $2 billion valuation, according to Bloomberg sources. Andreessen Horowitz's a16z crypto, the industry's largest crypto venture investor, is expected to lead the round, which is anticipated to close within the coming weeks, though the final capital amount may vary.
The timing of this raise reflects accelerating institutional adoption of blockchain infrastructure for financial services. The funding follows a $50 million strategic investment in late 2025 from BNY Mellon and Nasdaq, signaling major custodians and exchange operators are committing capital to Canton Network's development. Digital Asset's existing investor base includes DRW and Citadel Securities, both prominent market-making and trading firms that have validated the technology through operational deployment.
Canton Network operates as a privacy-enabled blockchain designed to connect financial institutions and their tokenized assets across permissioned, interoperable applications. The infrastructure has moved beyond conceptual proof-of-concept into demonstrable real-world use cases. In February, a consortium of global financial firms completed the first cross-border, intraday repurchase agreement using tokenized British government bonds on the Canton Network, establishing a tangible transaction on the platform and validating its utility for institutional fixed-income markets.
The involvement of FT Partners, a specialized financial technology investment banking firm, underscores the scale and institutional nature of this capital raise. The $2 billion valuation positions Digital Asset as a significant player in the emerging market for institutional blockchain infrastructure, competing in a space where financial institutions are increasingly seeking alternatives to legacy settlement and asset management systems. The round's expected closure and potential oversubscription beyond the $300 million target would further validate market confidence in Canton Network's trajectory within traditional finance infrastructure.
The timing of this raise reflects accelerating institutional adoption of blockchain infrastructure for financial services. The funding follows a $50 million strategic investment in late 2025 from BNY Mellon and Nasdaq, signaling major custodians and exchange operators are committing capital to Canton Network's development. Digital Asset's existing investor base includes DRW and Citadel Securities, both prominent market-making and trading firms that have validated the technology through operational deployment.
Canton Network operates as a privacy-enabled blockchain designed to connect financial institutions and their tokenized assets across permissioned, interoperable applications. The infrastructure has moved beyond conceptual proof-of-concept into demonstrable real-world use cases. In February, a consortium of global financial firms completed the first cross-border, intraday repurchase agreement using tokenized British government bonds on the Canton Network, establishing a tangible transaction on the platform and validating its utility for institutional fixed-income markets.
The involvement of FT Partners, a specialized financial technology investment banking firm, underscores the scale and institutional nature of this capital raise. The $2 billion valuation positions Digital Asset as a significant player in the emerging market for institutional blockchain infrastructure, competing in a space where financial institutions are increasingly seeking alternatives to legacy settlement and asset management systems. The round's expected closure and potential oversubscription beyond the $300 million target would further validate market confidence in Canton Network's trajectory within traditional finance infrastructure.
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