TechFlow reported on June 11, citing CoinDesk, that Digital Asset, the blockchain developer behind Canton Network, has announced the completion of a $355 million financing round. The round was led by a16z crypto and included participation from a group of global institutions, including ABN Amro, Apollo Funds, BNP Paribas, Citadel Securities, HSBC, SBI Group, and a subsidiary of the Abu Dhabi Investment Authority.
Round Exceeds the Earlier $300 Million Target
The announced financing amount exceeded Digital Asset’s earlier $300 million target. According to the disclosed figures, the company’s valuation reached $2 billion after the round. The financing is tied to Digital Asset’s role as the developer of Canton Network, a blockchain network designed for large financial institutions.
a16z crypto’s involvement goes beyond capital. In addition to leading the funding round, a16z crypto will provide Digital Asset with professional support in development, policy, and research. The source information describes these areas as part of the support package accompanying the investment.
Canton Network’s Institutional Focus
Canton Network is built specifically for large financial institutions. It supports the issuance and trading of tokenized real-world assets on a shared ledger. The examples listed in the source include bonds, loans, and funds. The network is also described as balancing privacy protection with compliance requirements, two features included in its institutional design.
Digital Asset’s latest financing announcement therefore combines several key details: a $355 million round, a lead investment from a16z crypto, participation by major global institutions, a valuation of $2 billion, and continued support for Canton Network’s development, policy, and research needs.