Digital Asset in talks for $300M A16z Crypto-led round
Digital Asset is in advanced talks to raise about $300 million at an approximate $2 billion valuation, with A16z Crypto expected to lead and FT Partners advising.
Digital Asset Holdings is in advanced talks to raise roughly $300 million at an approximate $2 billion valuation. A16z Crypto is expected to lead the round and FT Partners is advising. The financing has not closed and terms could change. If completed, it would be the company’s largest single funding round.
The company intends to use proceeds to expand the Canton Network ecosystem by scaling developer tools, adding subnets, speeding onboarding of institutional participants, and supporting cross-border pilots and global collateral network applications. Company executives and investors view those capabilities as necessary because tokenization of real-world assets is accelerating into 2026.
Digital Asset was founded in October 2014 by Yuval Rooz, Eric Saraniecki, Shaul Kfir, Sunil Hirani and Don R. Wilson. The firm developed Daml, an open-source smart contract language for financial workflows, and launched the Canton Network in 2023 as a Layer 1 blockchain built for regulated financial markets.
Canton provides configurable, protocol-level privacy that allows counterparties to share only the data required to settle a transaction. Its Global Synchronizer, governed by the Canton Foundation, enables assets and data to synchronize across applications and subnets in real time without relying on bridges. Canton differs from public chains where transaction data is fully visible.
Institutional adoption has expanded since launch. The network has processed or issued more than $6 trillion in tokenized assets. Visa joined Canton as a Super Validator in March 2026 and added the network to a stablecoin settlement pilot. The Depository Trust & Clearing Corporation announced a collaboration to tokenize DTC-custodied U.S. Treasuries with a target timeline in 2026. Other active validators and participants include HSBC, S&P Global, BNY Mellon, Citadel Securities, Nasdaq and Euroclear.
Before the current talks, Digital Asset completed a roughly $135 million strategic round in June 2025 led by DRW Venture Capital and Tradeweb Markets with participation from Goldman Sachs, Citadel Securities, DTCC and BNP Paribas. The company received a roughly $50 million extension in December 2025 from BNY Mellon, Nasdaq, S&P Global and iCapital.
A16z Crypto closed a $2.2 billion Crypto Fund V earlier this year, bringing its dedicated crypto capital to about $10 billion across five funds. The firm has identified protocol-level privacy as a capability many blockchains lack.
Digital Asset remains privately held. Additional details on the potential financing are expected in the coming weeks.
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