Digital Asset Raises $355M to Expand Canton Network
Digital Asset raised $355 million in a round led by a16z crypto at about a $2 billion valuation to scale its Canton Network for tokenizing and settling traditional securities.
Digital Asset announced a $355 million funding round led by Andreessen Horowitz’s crypto arm, valuing the company at about $2 billion. Andreessen Horowitz contributed $100 million, joined by investors including 7RIDGE, the Abu Dhabi Investment Authority, Citadel Securities and Optiver.
The company said it will use the proceeds to scale Canton, a permissioned multi-party ledger designed for financial institutions to create tokenized versions of existing securities and settle them on a shared platform while keeping commercially sensitive data private. Digital Asset plans to expand engineering and sales teams, increase network capacity and deepen integrations with banks and market infrastructure providers.
Canton has been piloted by major institutions, including Goldman Sachs, BNY Mellon, BNP Paribas, Standard Chartered, Société Générale and Deutsche Börse. The platform emphasizes privacy controls, transaction finality and interoperability with existing market processes.
Digital Asset began as a spin‑out from DRW about 12 years ago and has focused on permissioned ledger technology for regulated markets. The latest round follows a $135 million financing in June 2025 from investors such as DRW Venture Capital, Tradeweb, Citadel Securities, IMC, Optiver, Goldman Sachs and Virtu, and a $50 million strategic round in December from BNY Mellon, Nasdaq, S&P Global and iCapital. Earlier funding included investments from 7RIDGE, Eldridge and strategic partners and customers including JPMorgan, Citi, Deutsche Börse, IBM and Salesforce.
Yuval Rooz, cofounder and chief executive, wrote on X after the raise: “We knew institutional adoption was the path. We failed. We made bad decisions… But we never let go of our North Star.”
Investors in the round represent a mix of venture firms, asset managers and trading firms. Digital Asset said the new capital will support current pilots and customer integrations and enable broader deployment of Canton across regulated market participants.
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