Canton Network developer Digital Asset raises $355 million to bring capital markets onchain
Digital Asset raised $355 million in a new funding round to expand the Canton Network, a blockchain built for regulated capital markets. The round was led by a16z and included backers such as ABN Amro, Apollo Funds, BNP Paribas, Citadel Securities, HSBC, SBI Group, and the Abu Dhabi Investment Authority via a subsidiary. The total exceeded a previously reported $300 million target at a $2 billion valuation. Canton is designed for banks and trading firms to issue and trade tokenized assets like bonds, loans, and funds on a shared ledger while preserving privacy, compliance, and interoperability. The raise reflects growing institutional interest in blockchain infrastructure tailored for regulated finance, alongside similar efforts from firms like Stripe, Paradigm, and Circle. a16z crypto will also support the project with development, policy, and research expertise.
