Digital Asset Raises $355M from a16z and Major Banks for Canton Network
Digital Asset, developer of the Canton Network blockchain for institutional finance, announced a $355 million funding round led by a16z crypto. Participants include ABN Amro, Apollo Funds, BNP Paribas, Citadel Securities, HSBC, SBI Group, and the Abu Dhabi Investment Authority. The round exceeds the reported $300 million target at a $2 billion valuation. This investment reflects growing institutional adoption of permissioned blockchain infrastructure. The Canton Network enables tokenized real-world assets (bonds, loans, funds) on a shared ledger with privacy, compliance, and interoperability. The funding follows similar raises by Stripe's Tempo and Circle's Arc, signaling a trend toward regulated blockchain platforms for traditional finance.
Key facts
- Digital Asset raised $355M led by a16z crypto, above the $300M target.
- Investors include ABN Amro, Apollo, BNP Paribas, Citadel, HSBC, SBI, and ADIA.
- Canton Network targets institutional tokenization of real-world assets.
- Follows Stripe's Tempo ($500M) and Circle's Arc ($222M) raises in similar space.