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Digital Asset, the blockchain infrastructure firm behind Canton Network, is raising a fresh round at an approximately $2 billion valuation, with Andreessen Horowitz's crypto arm expected to lead roughly $300 million in financing, according to Bloomberg.
Why it matters
The round would mark a step-change for Digital Asset, which last raised outside capital in 2025 — a $50 million tranche backed by BNY Mellon and Nasdaq. Existing shareholders include DRW, Citadel Securities, and a roster of Wall Street banks that have been working with Canton on tokenized collateral and repo workflows. A new round led by a16z crypto would fold one of the most aggressive venture backers in the space into a cap table already stacked with traditional finance incumbents.
Market impact
Canton Network has positioned itself as a privacy-preserving layer-1 purpose-built for institutional use cases — tokenized fund shares, syndicated loans, and interbank settlement. The funding would extend Digital Asset's runway at a moment when TradFi tokenization pilots are graduating from proof-of-concept to production. Watch for secondary signals: a16z's stake size relative to existing investors, and whether the cap table's bank shareholders increase their positions in the new round.
Frequently asked questions
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What is Digital Asset raising at a $2B valuation?
Blockchain infrastructure firm Digital Asset is raising a new funding round at an approximately $2 billion valuation, with a16z crypto expected to lead about $300 million, according to Bloomberg.
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What does Digital Asset do?
Digital Asset builds Canton Network, a privacy-preserving layer-1 blockchain designed for institutional use cases including tokenized fund shares, syndicated loans, and interbank settlement.
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Who already backs Digital Asset?
Existing shareholders include DRW, Citadel Securities, BNY Mellon, and Nasdaq. The company last raised $50 million in 2025.
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Why is a16z crypto's involvement significant?
Adding a16z crypto as lead investor folds one of crypto's most active venture backers into a cap table already dominated by Wall Street incumbents — bridging TradFi shareholders with crypto-native capital.
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How does this fit the broader RWA thesis?
The raise comes as TradFi tokenization pilots look to move from proof-of-concept to production. Fresh capital at a $2B valuation signals continued venture conviction in the institutional tokenization infrastructure stack.
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