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Digital Asset, the developer behind the Canton Network, raised an additional $10 million from Shinhan Financial Group and SC Ventures, lifting its most recent funding round to $365 million, according to a source familiar with the deal. The extension was struck at the same $2 billion equity valuation as the earlier close.
Why it matters
The flat valuation is the read. Digital Asset raised at $2B before, and the new capital came in at the same mark, suggesting existing investors and the two new Asian banking backers view the Canton thesis as intact through a softer crypto cycle. Shinhan is one of South Korea's largest financial groups, and SC Ventures is the venture arm of Standard Chartered, two names that bring both balance-sheet credibility and a pipeline into regulated TradFi infrastructure.
Market impact
Canton positions itself as an institutional blockchain for tokenised real-world assets and inter-bank settlement, competing for mindshare with chains like Ondo, Kujira, and a growing roster of permissioned networks. A flat-round extension with two serious banking investors adds to the narrative that the institutional RWA rails are still attracting real money, even as public-chain token prices stagnate. Watch for further Asian bank participation in the next leg, which would reinforce Canton's positioning as the default institutional settlement layer.
Frequently asked questions
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Who are the new investors in Digital Asset's latest funding round?
Shinhan Financial Group and SC Ventures, Standard Chartered's venture arm, each contributed to the $10 million extension, according to a source familiar with the deal.
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How much has Digital Asset raised in total in this round?
The $10 million extension lifts the previously announced round to $365 million, struck at the same $2 billion equity valuation as the earlier close.
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What is Canton Network and why does it matter?
Canton Network is Digital Asset's institutional blockchain built for tokenised real-world assets and inter-bank settlement, positioning it as a permissioned settlement layer for regulated financial infrastructure.
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Why is a flat $2 billion valuation significant?
Holding the same valuation mark through a softer crypto cycle signals that existing and new investors view the Canton thesis as intact, rather than marking down the business amid broader market pressure.
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How does this fit into the broader RWA narrative?
The extension adds banking-credible capital to the institutional tokenisation story at a time when public-chain RWA tokens are competing for traction, reinforcing Canton's positioning as a settlement layer for TradFi.
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