Key Takeaways
- • Digital Asset secured $355 million in Series C funding led by Andreessen Horowitz's a16z crypto, with 24+ institutional investors including BNP Paribas, Citadel Securities, Broadridge, CME Ventures, Coinbase Ventures, and HSBC participating in the round.
- • Capital will fund product development, developer engagement, and network expansion for Canton, Digital Asset's Layer-1 blockchain infrastructure designed for regulated financial markets and real-world asset workflows.
- • Ali Yahya, general partner at a16z crypto, cited "product-market fit in regulated finance," highlighting Digital Asset's emergence as foundational infrastructure as institutional workflows move on-chain.
- • KOHO, a Canadian fintech, raised $93 million CAD ($130 million USD equivalent) at a $1.33 billion CAD valuation, achieving unicorn status with backing from Mubadala, Portage Ventures, and Shopify CEO Tobi Lütke as it pursues a federal banking license.
- • Fintech capital deployment accelerated this week, with Digital Asset and KOHO representing institutional appetite for blockchain infrastructure and regulated financial services platforms targeting the Canadian and global markets.
Summary
Digital Asset, creator of the Canton blockchain platform, closed a $355 million Series C funding round led by Andreessen Horowitz's crypto-focused fund, a16z crypto. The round attracted substantial institutional participation, with 24 investors including major financial services firms BNP Paribas, Broadridge, HSBC, CME Ventures, Citadel Securities, and Coinbase Ventures. International participation came from ABN Amro, the Abu Dhabi Investment Authority (through a subsidiary), SBI Group of Japan, and Hanwha Investment & Securities. The capital raise underscores institutional confidence in Digital Asset's Canton infrastructure as financial markets increasingly move real-world assets and settlement workflows onto blockchain rails.
Ali Yahya, general partner at a16z crypto, framed the investment as addressing a shift from theoretical to operational blockchain adoption in regulated finance. "Digital Asset has built one of the clearest examples of blockchain product-market fit in regulated finance," Yahya stated, positioning Canton as "foundational infrastructure for the next generation of financial markets." The funding will support product development, engagement with developers and financial institutions, and network growth across Digital Asset's ecosystem. The breadth of institutional capital—spanning traditional finance, crypto-native firms, exchanges, and infrastructure providers—reflects confidence in Canton's ability to serve as middleware for institutional asset settlement and trading workflows.
In parallel fintech activity, Canadian financial technology company KOHO announced a $93 million CAD ($130 million USD) funding round, valuing the firm at $1.33 billion CAD and achieving unicorn status. The round included participation from Abu Dhabi sovereign fund Mubadala, Portage Ventures, Drive Capital, BDC Capital, HOOPP, and individual investors including Shopify founder and CEO Tobi Lütke and Michael Linford, COO of Affirm. KOHO, which serves over 2.5 million Canadians, is pursuing a federal banking license with the fresh capital, having raised $507 million CAD cumulatively to date.
The week's fintech capital activity demonstrates sustained institutional appetite for blockchain infrastructure platforms addressing regulated financial workflows and Canadian consumer banking. Digital Asset's $355 million raise signals institutional readiness to deploy capital into on-chain financial infrastructure at scale, while KOHO's unicorn valuation reflects confidence in digital banking platforms targeting the Canadian market and expanding into regulated banking services.
Ali Yahya, general partner at a16z crypto, framed the investment as addressing a shift from theoretical to operational blockchain adoption in regulated finance. "Digital Asset has built one of the clearest examples of blockchain product-market fit in regulated finance," Yahya stated, positioning Canton as "foundational infrastructure for the next generation of financial markets." The funding will support product development, engagement with developers and financial institutions, and network growth across Digital Asset's ecosystem. The breadth of institutional capital—spanning traditional finance, crypto-native firms, exchanges, and infrastructure providers—reflects confidence in Canton's ability to serve as middleware for institutional asset settlement and trading workflows.
In parallel fintech activity, Canadian financial technology company KOHO announced a $93 million CAD ($130 million USD) funding round, valuing the firm at $1.33 billion CAD and achieving unicorn status. The round included participation from Abu Dhabi sovereign fund Mubadala, Portage Ventures, Drive Capital, BDC Capital, HOOPP, and individual investors including Shopify founder and CEO Tobi Lütke and Michael Linford, COO of Affirm. KOHO, which serves over 2.5 million Canadians, is pursuing a federal banking license with the fresh capital, having raised $507 million CAD cumulatively to date.
The week's fintech capital activity demonstrates sustained institutional appetite for blockchain infrastructure platforms addressing regulated financial workflows and Canadian consumer banking. Digital Asset's $355 million raise signals institutional readiness to deploy capital into on-chain financial infrastructure at scale, while KOHO's unicorn valuation reflects confidence in digital banking platforms targeting the Canadian market and expanding into regulated banking services.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.