TheBlock
Cancore has raised $7.2 million in seed funding at a $60 million fully diluted valuation for its planned CNRX token. Paper Ventures, dao5, ArkStream Capital, X Ventures, MH Ventures and Proof of Talk backed the round, with Paper Ventures and dao5 taking the largest allocations. The financing used simple agreements for future tokens, or SAFTs, and had no formal lead investor.
Cancore has been live on Canton mainnet since April. The platform connects tokenized assets on Canton with stablecoins and DeFi liquidity across Ethereum, Arbitrum, BNB Chain, Robinhood Chain and Tron. Its products include Cancore Trade for cross-network transactions and Cancore Wallet, which lets users retain control of their keys.
Why it matters
Cancore is positioning itself as a liquidity layer for tokenized finance, a market where assets need both onchain programmability and access to deeper trading venues. The platform says users can trade without relying on wrapped tokens or separate bridge validators, with transactions completing on both chains or both parties receiving refunds.
Since launching, Cancore has processed more than $86 million across over 160,000 trades and generated more than $700,000 in revenue, according to co-founder and CEO Wasif Rashid. Cancore charges a 0.5% fee on each side of a trade, adds 10% to Canton network fees and takes 20% of liquidity-pool profits.
Market impact
The company plans to add Base and Solana, with the Solana integration following an external security audit. It also plans to bring more tokenized assets onto Canton and expand hiring across engineering, security, AI infrastructure and institutional business development.
The CNRX token has no announced launch timeline. Cancore says staking CNRX will provide lower trading fees and higher limits for trading and AI tools, while liquidity providers will receive token benefits. The platform also runs a Canton validator and has locked 5 million CC tokens under CIP-0116.
Frequently asked questions
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What valuation did Cancore use for its seed round?
Cancore raised $7.2 million through SAFTs at a $60 million fully diluted valuation for its planned CNRX token.
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Which investors backed Cancore’s funding round?
Paper Ventures, dao5, ArkStream Capital, X Ventures, MH Ventures and Proof of Talk backed the round. Paper Ventures and dao5 took the largest allocations.
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What does Cancore’s platform connect?
Cancore connects tokenized assets on Canton with stablecoins and DeFi liquidity across Ethereum, Arbitrum, BNB Chain, Robinhood Chain and Tron.
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How much activity has Cancore processed since launch?
Since going live on Canton mainnet, Cancore has processed more than $86 million across over 160,000 trades and generated more than $700,000 in revenue.
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What are Cancore’s plans for the CNRX token?
Cancore has not announced a launch timeline for CNRX. It says staking the token will provide lower trading fees and higher limits for trading and AI tools, while liquidity providers will receive token benefits.
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