CoinDesk
Digital Asset, the firm behind the Canton Network blockchain, closed a $355 million funding round led by a16z crypto — surpassing its previously reported $300 million target at a $2 billion valuation. The round drew participation from ABN Amro, Apollo Funds, BNP Paribas, Citadel Securities, HSBC, SBI Group and the Abu Dhabi Investment Authority, assembling one of the most institutional-heavy cap tables in blockchain infrastructure history.
Why it matters
Canton Network was purpose-built for regulated capital markets: it lets major banks and trading firms issue and trade tokenized real-world assets — bonds, loans, funds — on a shared ledger while preserving privacy and meeting compliance requirements. The raise lands as a cohort of institutional-grade chains attracts serious capital: Stripe and Paradigm's Tempo reportedly raised $500 million, and Circle's Arc blockchain pulled in $222 million backed by BlackRock, Apollo and ARK Invest. a16z general partner Ali Yahya called Digital Asset "one of the clearest examples of blockchain product-market fit in regulated finance."
Market impact
The $355 million figure and the caliber of co-investors signal that institutional blockchain infrastructure is graduating from pilot to production budget. For tokenized real-world asset markets — already tracking tens of billions in on-chain value — a well-capitalized Canton Network with a16z's policy and research support materially raises the probability of mainstream capital markets settlement moving onchain within this cycle.
Frequently asked questions
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Which major institutions backed Digital Asset's $355M round?
The round was led by a16z crypto and included ABN Amro, Apollo Funds, BNP Paribas, Citadel Securities, HSBC, SBI Group and the Abu Dhabi Investment Authority through a subsidiary.
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What does Canton Network actually do for capital markets?
Canton Network lets banks and trading firms issue and trade tokenized real-world assets — such as bonds, loans and funds — on a shared ledger while maintaining privacy and regulatory compliance, combining blockchain decentralization with traditional finance safeguards.
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How does this raise compare to other institutional blockchain funding rounds?
The $355M raise exceeded Digital Asset's $300M target and sits alongside Stripe and Paradigm's Tempo at a reported $500M and Circle's Arc at $222M, reflecting a broader wave of capital flowing into regulated blockchain infrastructure.
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