ChainCatcher reported, citing The Block, that Digital Asset, the developer of Canton, has completed a $355 million financing round. The round was led by a16z crypto and included participation from a subsidiary of the Abu Dhabi Investment Authority, Apollo funds, BNP Paribas, Broadridge, Citadel Securities, CME Ventures, Coinbase Ventures, Greenwulf Asset Management, Hanwha Investment & Securities, HSBC, Liberty City Ventures, Optiver, Polychain, S&P Global, SBI Group, SoFi, Tradeweb and William Blair, among others.
a16z crypto leads a broad investor group
The disclosed participant list includes crypto-focused investors as well as institutions from traditional finance, securities, trading and asset management. a16z crypto led the round, while Coinbase Ventures, Polychain and Liberty City Ventures were among the crypto-related investors named. BNP Paribas, HSBC, Hanwha Investment & Securities, SBI Group, SoFi, Tradeweb and William Blair were also included in the list of participants.
Digital Asset said that after the completion of this financing round, the company has entered profitability. The statement places the capital raise alongside the company’s operating position, indicating that the financing was announced together with a shift into profitable status. As the developer of Canton, Digital Asset’s $355 million raise marks a major capital event tied to its work around blockchain-based finance.
Yuval Rooz says the round strengthens financial flexibility
Digital Asset CEO Yuval Rooz said that expanding the company’s balance sheet through the financing strengthens its financial flexibility. He also said the expanded balance sheet gives the company more freedom to pursue mergers and acquisitions, take part in emerging projects, and help partners build financial business systems based on blockchain rails.
According to Rooz’s remarks, the balance sheet expansion is intended to support several areas of activity for Digital Asset: greater flexibility at the financial level, the ability to advance M&A, participation in new projects, and assistance for partners developing on-chain financial business infrastructure. Following the completion of the round, the company’s disclosed focus remains connected to Canton development and blockchain-based financial collaboration.