Digital Asset Raises $355M to Scale Canton Network for Institutional Finance

Digital Asset has secured $355 million in funding to accelerate the development of its Canton Network platform, which is designed for institutional finance. The round was led by a16z crypto with a $100 million investment. This latest raise values Digital Asset at approximately $2 billion.

The funding attracted participation from prominent financial institutions and market infrastructure providers, including 7RIDGE, Citadel Securities, Optiver, Apollo, BNP Paribas, CME Ventures, Coinbase Ventures, HSBC, and ADIA. These investors are committing to the development of permissioned blockchain technology for institutional deployment.

Digital Asset plans to use the funds to forge new partnerships, pursue strategic acquisitions, and expand its ecosystem. The company will prioritize scaling Canton Network to support tokenized assets and institutional settlement processes.