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Digital Asset, the developer of the privacy-focused blockchain Canton Network, closed a $355 million funding round at a $2 billion valuation, led by a16z crypto. The round drew a rare mix of TradFi heavyweights, with subsidiaries of the Abu Dhabi Investment Authority, Apollo Funds, BNP Paribas, Citadel Securities, CME Ventures, Coinbase Ventures, HSBC, S&P Global, and SBI Group all participating.
Why it matters
The syndicate is the signal. Apollo, Citadel Securities, CME Ventures, HSBC, and S&P Global are not speculative crypto allocators — they are infrastructure providers evaluating where institutional capital and balance-sheet workflows will live on-chain. Canton's privacy architecture, built for permissioned institutional use cases, has positioned it as a candidate venue for tokenized collateral, repo, and interbank settlement pilots. Goldman Sachs participated separately as a strategic investor.
Market impact
Digital Asset said proceeds will fund M&A, strategic partnerships, and grants to teams building on Canton — capital that could accelerate the network's institutional on-ramp. The raise, one of the larger crypto funding events of 2026, suggests venture and institutional allocators are still actively underwriting picks-and-shovels infrastructure for the tokenization of traditional assets.
Frequently asked questions
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What is the Canton Network and what does Digital Asset do?
Digital Asset is the developer of the Canton Network, a privacy-focused blockchain built for permissioned institutional use cases such as tokenized collateral, repo, and interbank settlement workflows.
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How much did Digital Asset raise and at what valuation?
Digital Asset closed a $355 million funding round at a $2 billion valuation, led by a16z crypto with participation from a syndicate that included Apollo, Citadel Securities, CME Ventures, HSBC, and S&P Global.
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Who led the funding round and who else participated?
a16z crypto led the round. Subsidiaries of the Abu Dhabi Investment Authority, Apollo Funds, BNP Paribas, Citadel Securities, CME Ventures, Coinbase Ventures, HSBC, S&P Global, and SBI Group also participated, with Goldman Sachs joining separately as a strategic investor.
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What will Digital Asset use the new capital for?
The company said proceeds will fund mergers and acquisitions, accelerate strategic partnerships, and support grants to teams building on-chain businesses on the Canton Network.
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Why does this raise matter for crypto markets?
The TradFi-heavy syndicate signals continued institutional appetite for tokenization infrastructure, with major banks, asset managers, and exchanges underwriting rails for on-chain capital and balance-sheet workflows.
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