TheBlock
Digital Asset Holdings, the company behind the Canton Network, is raising roughly $300 million at a $2 billion valuation in a round led by Andreessen Horowitz's a16z crypto, Bloomberg reported Sunday. The fundraise is expected to close in the coming weeks, though the final amount could change.
Why it matters
The round would be Digital Asset's largest to date and reprices the company at roughly an order of magnitude above its last private mark. It also signals a16z crypto's continued conviction in the institutional-blockchain thesis, with Canton pitched as a privacy-preserving layer-1 purpose-built for regulated financial workflows. The network has spent 2024–2025 onboarding marquee participants including Visa, Goldman Sachs, and DTCC — the kinds of counterparties that materially shift the ceiling on tokenized-asset volumes.
Market impact
A $2B private valuation for an institutional-chain developer reframes the competitive set that had been dominated by RWA-focused layer-1s and permissioned chains. The deal will be watched closely by other infrastructure teams courting TradFi, and by the broader RWA-tokenization cohort as a read on where late-stage capital is clustering. Watch the round's confirmed close, any strategic participants beyond a16z, and post-close commentary on network growth metrics.
Frequently asked questions
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Who is leading Digital Asset's new funding round?
Andreessen Horowitz's a16z crypto is leading the roughly $300 million raise, with the round expected to close in the coming weeks, per Bloomberg.
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What is the Canton Network?
Canton Network is a privacy-preserving institutional blockchain developed by Digital Asset Holdings, purpose-built for regulated financial workflows and used by participants including Visa, Goldman Sachs, and DTCC.
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How large is the new valuation?
The round is reportedly being raised at around a $2 billion valuation, which would be Digital Asset's largest fundraise to date and well above its last private mark.
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What does the $300M raise fund?
The capital is expected to support continued growth of the Canton Network and its institutional infrastructure, though Digital Asset has not yet detailed the use of proceeds publicly.
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Why does a $2B valuation matter for institutional crypto?
It reprices an institutional-chain developer at a level that competes with major RWA-focused layer-1s, signaling that late-stage capital is clustering around infrastructure that serves regulated TradFi workflows.
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