FinTech Digital Asset Raises $135M for Its Institutional Blockchain Canton Network
Digital Asset has raised $135 million to enhance the Canton Network, a blockchain aimed at institutional and decentralized finance adoption. The funding round was co-led by DRW and Tradeweb Markets, with participation from major firms like Goldman Sachs, BNP Paribas, and Circle Ventures. The funds will facilitate the onboarding of various real-world assets, including bonds and commodities, onto the Canton Network. CEO Yuval Rooz emphasized that Canton supports multiple asset classes and aims to make blockchain's potential a reality for institutions. Goldman Sachs highlighted the network's ability to customize privacy settings, addressing key barriers to blockchain adoption. The Canton Network is designed to improve financial market efficiency and compliance, with backing from firms like Deloitte and S&P Global. Interest in tokenizing assets is growing among financial institutions, exemplified by BlackRock's launch of its first tokenized fund on the Ethereum network in March 2024.
