Digital Asset Raises $355M as DTCC Plans Treasury Tokenization

Digital Asset raised $355 million in an equity round led by a16z Crypto, which contributed $100 million. Financial Technology Partners acted as exclusive financial advisor. The company did not disclose a post-money valuation; earlier reports suggested it targeted roughly $2 billion.

The round included institutional investors such as Abu Dhabi Investment Authority, Apollo Funds, Citadel Securities, BNP Paribas, HSBC, CME Ventures, Coinbase Ventures, Tradeweb, S&P Global, SBI Group, Polychain, Optiver and SoFi.

The Depository Trust & Clearing Corporation has a partnership with Digital Asset to tokenize U.S. Treasury securities on the Canton Network, with completion targeted for 2026. Canton is a public, permissionless Layer-1 blockchain built for regulated capital markets. It offers sub-transaction privacy so counterparties see only the parts of a trade that concern them, supports the Daml smart contract language and uses a decentralized Global Synchronizer to route multi-party workflows such as repo settlement and collateral movement.

Digital Asset reported the network supports more than $6 trillion in tokenized real-world assets and processes more than $4 trillion in monthly transaction volume. The company also reported over $12 billion in digitally native securities issued, settlement times reduced from T+5 to T+0 in under 60 seconds on live workflows, and more than 700 ecosystem participants.

Live partners running workflows on Canton include JPMorgan, Broadridge and Visa, which Digital Asset identified as a Canton Super Validator involved in stablecoin settlement pilots.

Co-founder and CEO Yuval Rooz described the new capital as intended for mergers and acquisitions and to expand onchain partnerships. Ali Yahya, general partner at a16z Crypto, called Digital Asset “one of the clearest examples of blockchain product-market fit in regulated finance” and added “real-world assets and institutional workflows move onchain.”

Digital Asset reported it is profitable and positioned the round to fund growth rather than provide a survival runway. The company’s prior financings include a $135 million raise in June 2025 co-led by Tradeweb and DRW Venture Capital and a roughly $50 million raise in December 2025 with backers including BNY Mellon, Nasdaq, S&P Global and iCapital. The June 2026 equity round is larger than those earlier financings and broadened institutional participation.