a16z crypto to lead ~$300M round valuing Digital Asset at $2 billion!

Blockchain infrastructure firm Digital Asset is raising a new funding round at an approximately $2 billion valuation, with a16z crypto expected to lead roughly $300 million in financing, according to Bloomberg. The company is the developer behind Canton Network, a privacy-enabled interoperability layer designed for institutional financial markets.

Digital Asset carries serious Wall Street pedigree: existing backers include DRW, Citadel Securities, BNY Mellon, and Nasdaq, the latter two joining a $50 million raise earlier in 2025. A $2 billion valuation at this stage signals that institutional appetite for permissioned blockchain infrastructure — the plumbing beneath tokenized assets and on-chain settlement — is hardening into a genuine capital thesis, not just strategic positioning.